XRP at a Critical Juncture: Defending $2.98 Support to Prevent Deeper Correction

XRP at a Critical Juncture: Defending $2.98 Support to Prevent Deeper Correction

XRP, a prominent digital asset, is currently navigating a pivotal moment in its price trajectory. After experiencing a surge that pushed its value as high as $3.13 earlier in the week, XRP has found itself unable to sustain this bullish momentum. It is now trading closely around the $3.00 mark, exhibiting a critical test of its stability in the market. This recent price action, mirroring a broader slide seen in other major cryptocurrencies like Bitcoin, has led technical analysts to identify a crucial support level that could dictate XRP's short-term future. The market is keenly watching whether XRP can defend this key level to prevent a deeper corrective phase. The Immediate Challenge: Defending $2.98 Crypto analyst CasiTrades has brought significant attention to a specific price point: $2.98. According to their analysis, this level represents the most immediate and critical challenge for XRP. The ability of the digital asset to hold above $2.98 is paramount for preserving its unde…