XRP price prediction: Bulls fade near $3.10 as momentum weakens
XRP has pulled back to $3.1 after failing to maintain its breakout above the $3.65 level, with bulls unable to sustain upside momentum. The retracement follows a strong rally from $2.96 and is now testing support near the 200-EMA on the 4-hour chart at $3.08.
Highlights
- XRP price slips to $3.1 after rejection from $3.65, testing key EMA and Fibonacci levels
- Open interest drops 3.9% to $8.85B while options volume plunges 80%, signaling cautious sentiment
- XRP must reclaim $3.22 and $3.30 to confirm bullish reversal, or risk slipping toward $2.80 support
Immediate resistance is visible at the 0.236 Fibonacci level around $3.12, and a failure to reclaim this level could see further downside pressure toward $2.80. Technical indicators suggest a weakening short-term trend. The 20-EMA and 50-EMA have started to slope downward, now positioned above price at $3.24 and $3.25 respectively.
XRP price dynamics (Source: TradingView)
XRP is also struggling to break back above the 0.382 Fibonacci level at $3.22, which would be a prerequisite for renewed bullish interest. A hold above $3.00 remains critical to prevent a slide toward the 200-EMA support.
Derivatives market shows softening demand
Derivatives data reveals fading interest from speculative traders. Open interest has declined by nearly 4% to $8.85 billion, and trading volume is down more than 41% over the past 24 hours. Options activity has dried up sharply, with volume and open interest collapsing over 80% and 96% respectively. Although funding rates remain slightly positive, the tone is clearly cautious, as shown by the long/short ratio at 0.9268.
Liquidation trends underscore the shifting sentiment. Long liquidations dominated over the last 24 hours, totaling $1.41 million, compared to $729,000 in short liquidations. This shift highlights increasing pressure on bulls, especially with price action still below key Fibonacci thresholds.
Outlook remains fragile below $3.22
To regain bullish momentum, XRP must reclaim the $3.22 and $3.30 levels. Without that, the trend is at risk of continuing downward toward the $2.80 region. Near-term structure favors the bears unless buyers re-emerge at support and break through resistance with conviction.
In our previous coverage, we noted that XRP was testing key EMA support around $2.99–$2.65 following a liquidity sweep near $3.56. That rejection zone now aligns with the current weakness, with price action still unable to reclaim higher ground.
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