XRP Price Prediction & Analysis: Path to $3.00 Still Open After Recent Pullback?

TLDR:XRP price reached a peak of $2.65 on Wednesday before pulling backThe cryptocurrency is currently trading above $2.50 and the 100-hourly SMALong liquidations surged to $8.44 million over the past 24 hoursNetwork growth has declined significantly from 16,000 addresses in January to 3,400 in MayDespite the pullback, XRP maintains position above key moving averages, suggesting the uptrend may continueXRP price has experienced a pullback in recent trading but continues to hold above critical support levels. After reaching a peak of $2.65 on Wednesday, the price has corrected downward, now hovering around $2.51 as of Thursday.The cryptocurrency had been on a two-week upward streak from support around $2.12, mirroring the broader crypto market’s bullish sentiment. This upward momentum pushed XRP past several resistance levels, including the $2.50 and $2.55 marks.XRP bulls managed to drive the price above the $2.60 resistance zone before reaching the $2.65 level. However, this level proved to be a short-term ceiling, triggering the current correction phase.Technical analysis shows XRP trading above the $2.50 level and the 100-hourly Simple Moving Average, which serves as a positive indicator for bulls. However, a key bullish trend line with support at $2.55 on the hourly chart was broken during the pullback.XRPXRP PriceMarket Pressure and LiquidationsThe derivatives market has seen elevated activity during this correction. Data from CoinGlass reveals $10.14 million in total liquidations over the past 24 hours, with long positions accounting for $8.44 million compared to just $1.69 million in shorts.This surge in long position liquidations indicates that many traders who were betting on continued upward movement have been forced to exit their positions. The pullback has also affected open interest and trading volume.Trading volume dropped to $8.69 million from approximately $19.5 million on Monday, suggesting tightening liquidity in the market. Meanwhile, open interest declined slightly by 1% to $5.41 billion, indicating some unwinding of leveraged positions.These market metrics point to cooling speculative activity and potential profit-taking by traders who entered positions during the recent rally.On the resistance side, XRP may face hurdles near the $2.55 level, with the first major resistance located around $2.58. Beyond that, the $2.60 level represents another significant barrier.If the bulls can push past these resistance levels, XRP could retest the recent high of $2.65. Further upside targets include $2.72, $2.75, and potentially $2.88 if momentum builds.In my opinion it‘s a big beartrap and we will see a new ath next instead lower prices. $BTC#btc #bitcoin #eth #sol #xrp #sol #market #crypto #trading #invest #chart #bullrun #stocks #usa #trump #altcoins #alts #altseason #memecoins #memes #doge #fartcoin #popcat #pengu pic.twitter.com/sfgPfEOQM3— crypto jul (@futuresjul) May 15, 2025Network FundamentalsBehind the price action, XRP’s network metrics tell an important story. The XRP Ledger has experienced a decline in network activity, with Sentiment’s Network Activity metric falling from nearly 16,000 addresses in January to approximately 3,400 addresses on May 7.This 78.7% drop in network growth indicates fewer new addresses being created and reduced user engagement on the network. Typically, declining network growth signals weaker demand, which could potentially limit XRP’s upside in the coming days.Despite these concerns, XRP’s price remains well-positioned above key moving averages, including the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). This technical strength suggests the pullback might be temporary.The Moving Average Convergence Divergence (MACD) indicator maintains a buy signal above the center line, supported by green histograms. This technical signal highlights sustained bullish momentum for XRP and suggests the uptrend toward $3.00 could resume.For the bears, the downside scenario begins with initial support near $2.51 and the 61.8% Fibonacci retracement level of the move from $2.42 to $2.65. The next major support sits at $2.48, followed by $2.45 and the stronger support zone at $2.42.If XRP fails to hold these support levels, the correction could extend toward the 50-day EMA at $2.27, the 100-day EMA at $2.25, or even the 200-day EMA at $2.00 in a more severe drawdown.The current Relative Strength Index (RSI) reading of 63.34 is moving toward the midline of 50, indicating some weakening in the uptrend’s momentum.The post XRP Price Prediction & Analysis: Path to $3.00 Still Open After Recent Pullback? appeared first on CoinCentral.