XRP fails to break $3.10, signaling potential short-term correction toward $2.90 support level.
On-chain activity remains strong, but trading volume and DEX activity show declining market participation.
Meanwhile, Immediate support at $2.98 critical; bulls must defend to attempt recovery toward $3.25 resistance.
XRP price is once again under immense pressure after failing to push higher $3.10 for the third time this week. Veteran trader CasiTrades now warns the token could be entering a “deeper correction,” with market patterns hinting at a possible dip toward the $2.90 level.
XRP Price Could Drop $2.90, IF!
Over the past week, XRP has tried multiple times to break higher, but each attempt above $3.10 was met with selling pressure. This repeated failure to set a new local high has now opened the door for a corrective pattern.
According to CasiTrades, the chart is forming an ABC wave structure, with the next leg the C-wave potentially sending XRP down to the $2.90–$2.92 range. These levels also align with key Fibonacci retracement zones, making them important areas for buyers to step in.
Looking at the Relative Strength Index (RSI) on both the 1-hour and 4-hour charts, momentum is fading and no strong bullish divergence has formed. That suggests sellers may still have control in the short term.
On-chain data Suggest Weakness
At the moment, XRP price is holding near $2.98, but signs show the market is a bit weak. XRP’s network has processed over 1.1 million transactions daily, but trading volumes have dropped by 31% trading around $4.21 billion.
Adding more pressure is the decentralized exchange (DEX) volume on XRP Ledger also reached a multi-month low of $2.3 million, indicating reduced retail participation and softer demand.
What Comes Next for XRP?
Looking ahead, the $2.98 level will decide XRP’s immediate path. If bulls defend this area successfully, the price could stabilize and attempt another push toward resistance near $3.25 and $3.44.
As of now, XRP price is trading around $3 reflecting a drop of 0.7% seen in the last 24 hours with a market cap hitting $180 billion.
