XRP lost some points during the weekend as the crypto market experienced selling after upward gains and macroeconomic instability.
XRP declined from $3.35 on Thursday toward $3 on Friday then rebounded. The price reality attracted a death cross on XRP’s hourly chart, which might show likely selling in the short term.
Currently, XRP is trading under pressure, with traders keeping a close eye on whether the latest technical indication would spark deeper losses or just a brief period of consolidation.
You Might Also Like
In positive XRPL news, Nasdaq-listed Wellgistics Health is launching an XRP Ledger-based payment system for thousands of pharmacies across the United States, widening its bet on blockchain as it seeks to transform healthcare finance.
The move builds on Wellgistics’ May 8 announcement that it aims to employ XRP not only for payments but also as a treasury reserve asset, which is supported by a $50 million equity line of credit.
Potential scenarios
XRP confirmed support at $3, with repeated tests of this key level indicating this. On Thursday and Friday, XRP touched $3 twice, halting its decline at this price point.
You Might Also Like
The flat RSI slightly above the midpoint suggests the likelihood of consolidation, with bulls gaining an edge if positive momentum is sustained in the market.
If XRP sustains above $3, the price might move toward the $3.35 to $3.38 range next. A break and close above $3.40 could offer an edge to buyers. The XRP price may then increase to $3.66. The next trending move could start with a break above $3.66 or below $2.73.
On the other hand, if bearish pressure intensifies, bears will tug at the $3 level in order to breach it. If this is achieved, XRP would eye support at $2.91 (the daily SMA 50) ahead of $2.73.
