XRP’s price stands at $3.39 with a market capitalization of $201 billion, following a 7% decline from its all-time high. The cryptocurrency has experienced fluctuations between $3.36 and $3.664 per coin.
A critical juncture is approaching, marked by weakening momentum and potential downside risk. A head-and-shoulders pattern is forming on the four-hour chart, with fading volume indicating distribution following a parabolic advance.
The daily timeframe has displayed a strong bullish breakout, but exhaustion signals are evident, suggesting overextension across multiple indicators. Traders should monitor for a retracement into the $3.20–$3.30 region to confirm a healthier continuation pattern.
XRP’s oscillators provide mixed signals, while moving averages signal a bullish trend. A confluence of trend exhaustion, oscillator divergence, and robust moving averages points to a pivotal moment in determining XRP’s price direction.
A bullish outlook is possible if support holds above $3.30 and confirms a reversal in the $3.20–$3.30 range. Conversely, a break below $3.30 could validate bearish patterns, leading to a retracement toward $3.00 or even the $2.90 region.
Source: https://news.bitcoin.com/xrp-price-watch-3-66-rejection-sparks-short-term-caution