Ripple price prediction: XRP short positions intensify, can long positions hold the $3 level?

Ripple (XRP) has recently faced pressure, with prices accelerating downwards below the resistance level of $3.150, touching a low of $2.97 at one point. As short positions continue to exert pressure, long positions are trying to establish a defense near $3, but technical indicators show that if the key resistance is not breached, XRP may face a new round of decline.

XRP faces pressure and falls back, with $3.150 as the key resistance level

(Source: Trading View)

After failing to break through the resistance level of $3.250, XRP quickly fell below the support levels of $3.120 and $3.10, reaching a low of $2.971.

The current price is below $3.050 and the 100-hour simple moving average, with a bearish trend line forming on the hourly chart, and the resistance level at $3.060.

Short-term Rebound Conditions and Upside Targets

If XRP can effectively break through the 3.060 USD resistance level, it will likely challenge the resistance range of 3.120 USD and 3.150 USD.

Once it stabilizes at 3.150 USD, the price may further rebound to 3.20 USD, or even test the 50% Fibonacci retracement level of the fall from 3.350 USD to 2.97 USD.

Downside Risk: 2.92 USD Support at Risk

If XRP fails to break through 3.050 USD, short positions may push the price down again. The initial support level is at 2.965 USD, and the key support level is at 2.920 USD.

Once the closing price falls below $2.920, the price may accelerate downwards to $2.850, and even test the $2.80 region. A break below this region could trigger a larger sell-off.

Technical Indicator Signal

MACD (Hourly): The MACD for XRP/USDT is in the bearish zone, with increased short positions momentum.

RSI (Hourly): The Relative Strength Index is below 50, indicating that selling pressure dominates the market.

Main support levels: $2.920, $2.850.

Main resistance levels: $3.050, $3.150.

Conclusion

XRP is currently at a critical moment of tug-of-war between bulls and bears. The support level around 3 USD will determine whether the bulls can hold their ground and create conditions for a rebound. If it breaks through 3.060 USD and stabilizes above 3.150 USD, it is expected to restart upward movement in the short term; conversely, a drop below 2.920 USD may trigger a deeper correction. Investors should closely monitor these key price levels to formulate appropriate trading strategies.