XRP continues to face market pressure, failing to hold the $3 mark. Analysis shows potential future trends.
Current Market Situation of XRP
XRP was unable to maintain its recent rise and has fallen back below the $3 mark to $2.95. After positive sentiment emerged following a relatively strong weekend, selling pressure arose on Monday. On-chain data indicates increasing exchange inflows, often linked to profit-taking behavior.
Elliott Wave Analysis and Key Support Levels
Elliott Wave analyst Avi Harkishun noted that XRP retains a bullish structure as long as it stays above the $2.95 mark. If it drops decisively below this level, the asset may enter a corrective phase through a WXY double correction pattern, potentially retracing toward $2.40. Meanwhile, holding the $3 level could open paths to targets around $4.00-4.40.
Analysts' Predictions
Some analysts, such as Ali Martinez, express optimism for the asset, predicting it won’t be long before XRP returns to around $3.70. These forecasts are backed by long-term trend analysis, indicating the potential to reach $5 or higher in 2025 despite short-term fluctuations.
Thus, XRP stands at a critical juncture. Maintaining above the $2.95 level is crucial for future growth, while analysts highlight both opportunities and potential risks for investors.
