XRP Sub-$3 with $1.2B Shorts; Tracks BTC, Targets $3.6–$4
XRP price has fallen below the key $3 support level, amid $1.2 billion in short positions. The move reflects a close correlation with Bitcoin’s recent retracement from its all-time high of $124,000 to around $112,000. Popular analyst CrediBULL Crypto suggests the XRP price could rebound to $3.6–$4, though the rally depends on Bitcoin’s performance. In the long term, he maintains a $10 spot target for XRP. Legal commentator Bill Morgan argues that XRP’s price swings are driven more by Bitcoin movements than by Ripple’s fundamentals. On-chain analyst EGRAG Crypto warns that XRP must hold above $3.03 for a week to record its highest monthly full-body candle close. Another trader, Dark Defender, highlights a repeating bull flag pattern, with upside targets between $4.39 and $5.85 if support at $3 and $2.85 holds. Traders will watch these levels closely for clues to the next leg in XRP’s trajectory.
Neutral
While XRP’s breach of the $3 support and the accumulation of $1.2 billion in short positions underscore a bearish undertone in the short term, analysts highlight several bullish setups that could offset this pressure. The tight correlation with Bitcoin means XRP may follow BTC’s next move; if Bitcoin stabilises or rallies, XRP price could see relief above critical support levels. Technical indicators such as the proposed bull flag pattern and targets at $3.6 – $4 and even higher to $4.39–$5.85 suggest potential upsides. Conversely, failure to hold $3 or $2.85 could prolong the downtrend. Historically, similar capitulation phases followed by rapid recoveries have occurred when key supports held and broader market sentiment turned positive. Therefore, the immediate bias is mixed: traders should remain cautious of further downside, but be prepared for a rebound if Bitcoin regains momentum and XRP defends its support. This balanced outlook justifies a neutral stance on XRP’s market impact.