XRP News Today: XRP Tests $3.10 Support After $1B Liquidation Triggers 5.37% Drop

XRP is currently testing a critical support level at $3.10 after a 5.37% intraday drop, triggered by a $1 billion market-wide liquidation event. This sharp correction has led to aggressive profit-taking, particularly among institutional investors, creating a volatile environment. The price action has established a trading range between $3.35 and $2.99, with the RSI stabilizing in neutral territory at 50.70 and the MACD showing a slight bearish bias but positive histogram momentum. XRP remains above key long-term EMAs, including the 50-day at $2.92, but is below the 20-day EMA at $3.13 [1].

Volume surged to 248.44 million XRP, highlighting significant institutional participation during the sell-off. The Average True Range (ATR) of 2.31 signals heightened volatility, consistent with a liquidation-driven correction. Coinglass data confirms that the $1 billion in liquidations originated from institutional longs, reinforcing the impact on market structure [2].

The key support levels at $2.99 and $2.92 are now under intense scrutiny. A successful defense would provide a foundation for a potential bounce toward $3.13 and beyond, while a breakdown could deepen the correction toward the $2.69–$2.42 support range. Technical indicators suggest that XRP is at a turning point, with moving average positioning and momentum metrics favoring a bullish reversal if support holds [3].

Meanwhile, Ripple’s CTO David Schwartz affirmed that the XRP Ledger is fully prepared to support global financial infrastructure, a move seen as critical validation for institutional adoption. This comes alongside Ripple CEO Brad Garlinghouse’s prediction that RLUSD, the XRP-pegged stablecoin, could rank among the top five stablecoins by year-end. Such developments reinforce XRP’s role in the broader institutional crypto ecosystem [4].

ChatGPT’s XRP analysis integrates 19 real-time technical indicators, highlighting the importance of the current support test in shaping the next 90-day price trajectory. Despite the pullback, XRP maintains a 20.11% discount to its all-time high and holds a 4.57% market dominance, reflecting its institutional relevance. The $11.91 billion in daily trading volume and a 6.51% volume-to-market cap ratio suggest that major players are actively repositioning during the liquidation phase [5].

Social sentiment remains cautiously optimistic. LunarCrush data shows a 83% positive sentiment score despite the correction, with community discussions focusing on support defense and price targets ranging between $7 and $13. The AltRank has dipped to 438, and the Galaxy Score is at 39, signaling temporary sentiment cooling rather than a fundamental shift in confidence [6].

Looking ahead, three primary scenarios are in focus. A 45% probability supports a recovery to $4.00–$5.00, contingent on strong support defense and continued infrastructure adoption. A 35% probability suggests extended consolidation between $2.80 and $3.30, allowing technical indicators to reset. The lowest probability—20%—points to a deeper correction below $2.92, with potential accumulation opportunities before the next institutional-driven upleg [7].

The XRP futures open interest has risen above $3 billion, reflecting renewed speculative interest following the liquidation event. Sustained growth in open interest could signal a larger price move, particularly if institutional positioning stabilizes. The market’s next major inflection point will likely depend on whether XRP can defend its key support levels and whether broader crypto conditions improve [8].

Sources:

[1] [ChatGPT’s XRP Analysis Reveals Key Support Test at $3.10 as $1B Market Liquidation Triggers Profit-Taking](https://cryptonews.com/news/chatgpts-xrp-analysis-reveals-key-support-test-at-3-10-as-1b-market-liquidation-triggers-profit-taking/)