XRP is currently in a tight spot. After an impressive rally that took its price close to previous highs, the token has now slipped below a key support level, raising questions about its short-term direction.
XRP is still holding onto a bullish structure. It continues to form higher highs and higher lows, which is generally a sign of strength. This means that despite the short-term pullback, XRP hasn’t yet confirmed the start of a bear market. In fact, as long as the price stays above critical support levels, the longer-term outlook remains intact.
Recent Price Action and Support Levels
In the short term, XRP has broken below the $3.40 mark, which had acted as a strong support level for over a week. So, where does XRP go from here? One scenario is…
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