XRP Price Struggles Below $3, Top Traders Warn of Possible Dip

XRP price is once again under immense pressure after failing to push higher $3.10 for the third time this week. Veteran trader CasiTrades now warns the token could be entering a “deeper correction,” with market patterns hinting at a possible dip toward the $2.90 level.

XRP Price Could Drop $2.90, IF!

Over the past week, XRP has tried multiple times to break higher, but each attempt above $3.10 was met with selling pressure. This repeated failure to set a new local high has now opened the door for a corrective pattern. 

According to CasiTrades, the chart is forming an ABC wave structure, with the next leg the C-wave potentially sending XRP down to the $2.90–$2.92 range. These levels also align with key Fibonacci retracement zones, making them important areas for buyers to step in.

Looking at the Relative Strength Index (RSI) on both the 1-hour and 4-hour charts, momentum is fading and no strong bullish divergence has formed. That suggests sellers may still have control in the short term.

On-chain data Suggest Weakness

At the moment, XRP price is holding near $2.98, but signs show the market is a bit weak. XRP’s network has processed over 1.1 million transactions daily, but trading volumes have dropped by 31% trading around $4.21 billion. 

Adding more pressure is the decentralized exchange (DEX) volume on XRP Ledger also reached a multi-month low of $2.3 million, indicating reduced retail participation and softer demand.

What Comes Next for XRP?

Looking ahead, the $2.98 level will decide XRP’s immediate path. If bulls defend this area successfully, the price could stabilize and attempt another push toward resistance near $3.25 and $3.44. 

As of now, XRP price is trading around $3 reflecting a drop of 0.7% seen in the last 24 hours with a market cap hitting $180 billion.