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XRP (XRP) has been repeatedly broken above the level of $ 3 since its November 2024, but each attempt has ended in a falsification followed by deeper corrections.
On Saturday, its price fell once again below its $ 3 support, coinciding with its exponential mobile average of 200-4h (EMA; Green Wave).
Can the XRP price decrease even more in the next few days? Let’s examine.
Fractal XRP chart puts 15% correction at stake
XRP is reflecting a bearish fractal that can trigger a 15% drop around $ 2.60 in the next few days.
In September, the price of Token formed a rounded upper part, then slid in a period of consolidation of the symmetrical triangle before breaking sharply. That movement sent XRP prices falling to the $ 2.70 area.
A similar sequence is developing again in October.
In the four -hour table, XRP has formed another rounded upper part and is consolidating inside a bass flag. This structure often leads to another lower leg due to the maximum distance between its higher and lower tendency lines.
The four -hour relative resistance indicator (RSI) contributes to this risk, since it has been corrected of overstrust levels above 70 and still has space to decrease before the overall threshold of 30.
Related: The XRP price claims $ 3, opening the way for 40% profits in October
XRP can try the first support flag at $ 2.93. A decisive closure below could confirm a breakdown, which will potentially open the way to $ 2.60, a decrease of almost 15% of current prices.
That disadvantage objective is aligned with the 200 days of XRP (the blue wave in the table below).
A rebound of 20- ($ 2.93) or 50 days ($ 2.52) EMAS can invalidate the bearish perspectives, which causes a rebound to $ 3 again.
$ 500 million long tightening can feed the sale of XRP
The level of $ 3 of XRP is just between two heavy liquidity pockets, according to the data resources.
On the positive side, there are thick groups of long levels of liquidation between $ 3.18 and $ 3.40.
For example, at $ 3.18, the short cumulative leverage is approximately $ 33.81 million, suggesting that the market could move up to activate the arrest orders if the bulls regain control.
However, on the negative side, the heat map stands out even larger liquidation swimming pools between $ 2.89 and $ 2.73, of more than $ 500 million.
The decisive xRP closure below $ 3 could trigger a waterfall of long liquidations towards $ 2.89– $ 2.73. However, keeping above $ 3 leaves space for a stop at $ 3.20– $ 3.40.
This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.
