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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
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$XRP Collapses After Being Rejected at 3.40 USD: Is the Next Stop 2.50 USD?
XRP has faced strong selling pressure after failing to hold the $3.40 level. Cryptocurrency analyst Michaël van de Poppe describes the $3.40 level as a "key level" and notes that losing this level could trigger a deeper correction. After being rejected, the price has dropped lower but has not yet reached the 2.50 zone.
Van de Poppe has identified the price zone from 2.40 to 2.60 dollars as a potential entry zone if the downtrend continues. On the daily chart of XRP/USDT, the 2.20 dollar range is marked as the previous breakout point, supporting the latest bullish move. Below that, a wider support zone between $1.82 and $1.57 has been outlined for higher time frame opportunities. The chart also shows that "all liquidity has been withdrawn" from the zone above $3.40, indicating a sweep before the reversal. Whale Accumulation and Trading Activities Market analyst Ali Martinez reported that large investors purchased 900 million XRP within 48 hours. He connected this buying activity to the recent ruling of Ripple Labs and the U.S. Securities and Exchange Commission, ending with both parties dismissing all appeals.
After this development, the daily trading volume of XRP has increased to 8.77 billion dollars, up 69% compared to the previous day. The open interest of XRP derivative products has also increased, reflecting stronger market participation from traders and institutions. Martinez stated: "Breaking this threshold, 3.60 dollars will be the next threshold," referring to the resistance level of 3.27 dollars. On the 2-hour chart, XRP is trading in a falling channel, with the level of $3.27 at the upper boundary of the channel. Analysts note that a move above this level could pave the way for price levels of $3.37, $3.51, and possibly $3.60. CrediBULL Crypto analysts point out that the range of 2.95–3.11 dollars is the preferred buying zone and state: "As long as the green zone is maintained, we can aim for the highest level or a new ATH." His forecast suggests that the price is likely to rise from this level to $3.60, with the potential to reach a new all-time high if it surpasses this threshold. However, if the price falls below $2.95, this scenario will become invalid. Market Outlook At the time of writing, the price of XRP is at $3.14, falling 3% in the past 24 hours but has increased 2% in the past week. Short-term traders are watching to see if the resistance zone of $3.27 can be broken, while others are waiting for the price to test the range of $2.40–$2.60 to potentially buy in. Clarity on regulations has driven interest, but the market trend remains tied to key technical levels.