XRP News Today: XRP Drops 2.6% After 22% Weekly Rally

XRP, the cryptocurrency associated with Ripple, has recently experienced a price adjustment, declining by 2.6% in the past 24 hours to trade around $3.45. This drop follows a robust rally of 22% over the past week, which is typical of a short-term correction after a significant bullish movement. The 4-hour chart indicates that XRP is currently testing immediate support levels at $3.48 and $3.42, with stronger support at $3.00, a psychological level and previous breakout zone. The 9-EMA remains above the 21-EMA, but the narrowing gap signals weakening momentum. The RSI (14) is at 62.35, suggesting consolidation rather than a full reversal.

For short-term traders, the current price action may not be ideal for immediate entry due to signs of local exhaustion. Scalpers might consider waiting for a potential bounce confirmation above $3.42 or entering on a reclaim of $3.52 with a stop just below $3.42. Swing traders, on the other hand, might find a better entry near the $3.00 zone if the price retraces further, offering a better risk-reward ratio. Long-term investors could view this dip as an early entry opportunity, especially if their conviction is strong, but laddering in slowly is advised. The market remains bullish as long as the $3.00 support holds.

Upside targets for XRP include the first resistance at $3.61, with a break above that potentially leading to $4.00 and $4.25 in the next bullish wave. However, downside risks include a breakdown below $3.42, which could open room for a retest of $3.00. An extended correction may drag XRP down to $2.80, then $2.50 if bearish momentum accelerates.

According to the analyst's forecast, XRP could reach $5 within two years, given its current price near $3.60. Another analyst predicts that XRP could climb as high as $2,000 by January 1, 2026, under certain global and market conditions. Pundits also expect XRP to surge beyond its current price, suggesting that even modest holdings today could be worth fortunes in the future. Based on the XRP forecast, it is now a good time to buy XRP, with a potential return on investment of approximately $143.69 if $1,000 is invested today.

However, XRP faces a potential price reversal as new investor activity drops and long-term holders begin selling. Key support at $3.38 is now under threat, which could lead to further price adjustments. Despite these risks, analysts predict a prolonged bull cycle for XRP, possibly stretching into 2027. The market dips, but the overall bull trend remains intact, suggesting that XRP could continue to perform well in the long term.