XRP News Today: XRP Falls Below $3.50, Key Support at $3.00 Under Test Amid Analysts' Divergent Views

Ripple’s XRP has retreated from recent highs, with technical indicators suggesting a potential period of consolidation or further decline. The token’s price action on both the XRP/USDT and XRP/BTC pairs highlights key support and resistance levels that could determine its near-term trajectory. Analysts remain divided, with some viewing the pullback as a temporary pause in an uptrend and others warning of deeper risks tied to structural weaknesses and large-scale selling pressures.

On the XRP/USDT daily chart, price has pulled back below the $3.50 resistance zone, finding support within the $3.00 demand area. This level overlaps with the upper boundary of a prior consolidation range, offering a critical test for buyers. The Relative Strength Index (RSI) has cooled from overbought levels to around 59, indicating reduced upward momentum. However, a failure to defend the $3.00 zone could see XRP retest $2.50, where the 100-day and 200-day moving averages converge [1]. Meanwhile, the XRP/BTC pair has fallen below a short-term uptrend, entering a fair value gap around 2,680 SAT. The price hovers just above the 200-day moving average, a potential floor for short-term buyers. A breakdown below this level could trigger a deeper retest of the 2,400 SAT region, while a successful hold might pave the way for a renewed push toward 3,200 SAT [1].

The broader market context reveals mixed signals. While some analysts, including CasiTrades, highlight a bullish "flip" in the 1-hour candlestick pattern, where a former resistance at $3.40 has become a resilient support zone, others caution that a break below this level could reignite downward momentum. This support has been tested three times without a breakdown, signaling buyer resilience. However, a drop below $3.40 could force XRP to retest $3.20, aligning with the 0.236 Fibonacci retracement level. A rebound from this area could target $4.65, based on the 2.618 Fibonacci extension of prior gains [2].

External factors, such as a $140 million sell-off by Ripple co-founder Chris Larsen in July, have also influenced price dynamics. This event coincided with one of the largest long liquidation events on Binance, exacerbating volatility. Despite this, some analysts argue the slump is merely a "coffee break" in a broader uptrend, with price targets between $4 and $12 still within reach [3]. The RSI on the 1-hour chart suggests XRP retains momentum to push above $3.65 before month-end, though overbought conditions near 80 remain a cautionary signal for further gains [2].

Speculative price targets have drawn scrutiny. While bullish forecasts project a 31,150% gain on 500 tokens if XRP reaches $1,000, such scenarios are deemed "highly speculative" due to the absence of fundamental catalysts supporting such a move. Analysts emphasize that these forecasts, often derived from Fibonacci extensions or pattern-based projections, should not be conflated with near-term probabilities [5]. A "cup and saucer" pattern identified by NewsBTC suggests the rally may not be complete, as XRP has reclaimed the $3.6 level multiple times this year [6].

Structural challenges persist, with some interpreting a potential "double top" formation as a precursor to a crash if the $3.40 support fails [3]. Despite elevated RSI readings, XRP has shown relative stability compared to other assets, with "little indication of panic selling" [7]. However, the cryptocurrency’s path forward remains uncertain, as conflicting technical indicators and analyst interpretations underscore the market’s mixed sentiment.

In summary, XRP is at a pivotal juncture, balancing between consolidation and potential breakdown. The resilience of key support levels and the absence of panic selling provide some optimism, but structural risks and speculative forecasts remain unresolved. Market participants will need to monitor how buyers react at critical thresholds to determine whether this is a temporary pause or a prelude to a deeper correction.

Source: [1] https://coinmarketcap.com/community/articles/688372ec2fb07463b9e4384a/ [2] https://www.newsbtc.com/analysis/xrp/xrp-showing-quiet-strength/ [3] https://cryptopotato.com/analyst-says-xrps-slump-is-just-a-coffee-break-heres-why/ [4] https://cryptopotato.com/xrp-longs-crushed-on-binance-as-analyst-flags-ripple-co-founders-140m-sell-off/ [5] https://www.ainvest.com/news/xrp-news-today-xrp-1-000-target-generate-31-150-gain-500-tokens-2507/ [6] https://www.newsbtc.com/analysis/xrp/cup-and-saucer-xrp-price/ [7] https://u.today/is-xrp-stronger-than-ethereum-bitcoins-btc-150000-around-corner-shiba-inu-shib-summers-biggest-test