Usman Salis
XRP just hit its first major correction, falling from over $3.60 to around $3.10, but this looks more like a healthy cooldown than a crash.
XRP just took its first real hit after an insane run that pushed it above $3.60. Now it's sitting around $3.10 with multiple red candles stacking up. But here's the thing – this doesn't look like the usual altcoin bloodbath we're used to seeing.
This feels more like a healthy cooldown than a total collapse. You know when you've been running hard and need to catch your breath? That's basically what's happening here. The correction looks controlled, not like the panic selling that usually destroys altcoins.
What's keeping things interesting is that XRP is still above its 21-day EMA at $2.91. This level has been solid support during rallies, catching the price when it drops. The overall structure still looks bullish too, which is encouraging if you're holding.
The volume tells a good story as well. That recent spike happened with serious volume, showing real accumulation instead of just speculation. Sure, volume is dropping now, but it's not disappearing completely – buyers haven't totally given up yet.
XRP (Ripple) Shows Healthy Technical Reset
The RSI just cooled off to 59 after being way overbought, which is actually perfect. Being overbought for too long usually ends badly. This reset gives the market breathing room and maybe sets up for another move higher.
Everyone's watching the $2.90 to $3.00 range right now. If XRP can hold above this support and build a base here, we could see another breakout setup. Think of it like a launching pad – you need solid ground before jumping higher.
But let's be real about the downside too. If XRP breaks below the 50-day EMA at $2.49, that would signal a much deeper pullback. That's when things could get ugly.
Right now though, everything looks contained. The correction isn't spiraling out of control, and that's usually a good sign. In crypto, measured pullbacks often set up the next move higher.
What's Next for XRP (Ripple) Price
Expect some sideways action while XRP figures out its next move. These consolidations can be boring, but they're necessary for building the foundation for what comes next.
The bulls are still in control based on volume patterns, moving average support, and RSI behavior. As long as sellers don't completely take over and buyers start showing up again, XRP looks like it's setting up for another run.
If the important support levels hold – and they are right now – we could see a bullish reversal before August. But don't expect fireworks immediately. These things take time.
Bottom line: this correction looks healthy, not catastrophic. XRP needed to cool off after that parabolic run, and what we're seeing is the kind of pullback that often comes before the next leg up. Just keep watching that $2.90-$3.00 support zone – that's where the real action will be.
Usman Salis
