As of March 3, 2025, XRP is trading at $2.34 USD, reflecting a decrease of $0.55 (-19.03%) from the previous close. The intraday high is $2.89 USD, and the intraday low is $2.33 USD.

Wyckoff Analysis on 15-Minute Timeframe:

Applying the Wyckoff Method to XRP's 15-minute chart reveals the following insights:

1. Distribution Phase: XRP's price recently reached an intraday high of $2.89 USD, followed by a sharp decline to $2.33 USD, indicating potential distribution by large market participants.

2. Sign of Weakness (SOW): The rapid drop from $2.89 USD to $2.33 USD suggests increased supply and diminished demand, characteristic of a Sign of Weakness.

3. Last Point of Supply (LPSY): Following the SOW, XRP attempted a minor rally but faced resistance around $2.50 USD, marking the Last Point of Supply before further decline.

4. Downtrend Continuation: The inability to reclaim higher price levels indicates a continuation of the downtrend, with XRP stabilizing near $2.34 USD.

Conclusion:

The Wyckoff analysis suggests that XRP is in a bearish phase on the 15-minute timeframe, with potential for further downside. Traders should monitor support levels at $2.30 USD and resistance around $2.50 USD for potential entry and exit points.

*Disclaimer: Cryptocurrency markets are highly volatile and subject to rapid changes. Conduct thorough research and consult with a financial advisor before making investment decisions.*

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