Key Insights:

• XRP could face a potential 15% drop towards $2.60 if it cannot maintain the $3 support level.
• Over $500 million in liquidations below $3 may exacerbate the sell-off.

XRP has struggled to hold above the $3 mark following its surge in November 2024. Each attempt to stay above this level has met with resistance, leading to further declines.

On Saturday, XRP’s price slipped back below $3, aligning with its 200-4H exponential moving average (EMA).

Potential for Further Decline?

Market analysts are closely monitoring XRP, observing a bearish trend that could trigger a further decrease in the coming days. In September, XRP created a rounded top followed by a severe drop, and a similar trend seems to be unfolding this October.

The crypto is forming what appears to be another bearish flag pattern, indicating a possible drop as much as 15% from current levels. A failure to hold steady at the flag’s support around $2.93 could solidify a downtrend.

Liquidation Pools Across the $3 Threshold

According to CoinGlass data, XRP’s $3 threshold is crucial, situated between significant liquidity pockets. If the price decisively closes below $3, liquidations between $2.89 and $2.73 could come into play, motivating a sell-off.

To summarize, XRP requires robust performance above the $3 support to prevent a tumble towards lower price points.