- XRP has dropped below $3, but analysts remain bullish on its long-term potential and expect a strong rebound later this year.
- Key support levels and growing institutional exposure could position XRP for a major Q4 rally
XRP has dipped below $3, sparking concerns among short-term traders, but seasoned analysts remain confident about its long-term bullish potential. Despite recent volatility, the altcoin could still launch a substantial rally later this year.
XRP Faces Short-Term Pressure
According to crypto analyst CrediBULL Crypto, XRP’s short-term charts show weakness, but the long-term structure remains firmly bullish. A drop below $2.65 could occur if Bitcoin falls under $105,000, yet this would not invalidate the higher timeframe setup. Temporary declines to the $2–$2.40 range may align with broader market corrections, potentially setting the stage for a swift rebound once conditions improve.
Trader DonAlt supports this outlook, highlighting that XRP’s current cycle may culminate in a “full ballistic” move. He has identified $2.20 as a key invalidation level, where he plans to take profits for a potential threefold gain.
Critical Support Levels Highlighted
Crypto chart analyst Ali Martinez sees $2.70 as a crucial support level. Holding this level could validate a rebound toward $3.20, signaling renewed strength for the altcoin. Market data from Coinglass shows $18.27 million in XRP liquidations over the past 24 hours, with $16 million in long positions closed. This indicates recent trader capitulation and heightened market volatility.
Institutional Exposure Boosts Confidence
XRP’s inclusion in the Hashdex Nasdaq Crypto Index ETF, alongside Solana and Stellar, provides greater institutional exposure and liquidity in U.S. markets. Analysts believe this added backing may contribute to faster recovery and renewed bullish sentiment.
Why XRP Traders Remain Optimistic
Despite the recent 10% weekly drop, XRP is expected to be among the first coins to rebound in a recovering market. Its robust long-term setup and growing institutional adoption make it well-positioned for a potential surge in Q4. Investors are closely monitoring support levels and broader market trends to gauge when a strong recovery could occur.
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