Ripple Price Analysis: is XRP Due for a Correction Below $3?

Ripple continues to consolidate beneath a critical descending resistance, forming a tightening structure that suggests a potential breakout is ￰0￱ asset is showing signs of strength above key moving averages, yet remains capped by a significant multi-month trendline that has repeatedly rejected price ￰1￱ Price Analysis: Technicals By Shayan The Daily Chart On the daily timeframe, XRP is trading within a converging wedge pattern, defined by a descending resistance line from the yearly high and a rising trendline acting as dynamic ￰2￱ price has reclaimed both the 100-day and 200-day moving averages and completed a pullback, reflecting improving bullish sentiment after weeks of sideways action.

Currently, the market is retesting the upper boundary of this wedge near $3.05–$3.15, which aligns with a key supply zone that has repeatedly rejected previous attempts at continuation. A confirmed breakout above this confluence could open the path toward $3.35 and eventually $3.60, where the higher-timeframe liquidity pool and major resistance await. However, failure to break through may result in another short-term pullback toward the $2.75–$2.80 range, coinciding with the lower boundary of the pattern and near the 200-day MA, a key area that must hold to preserve the bullish market structure.