The post XRP adds $6 billion in a day; Is $3 next? appeared on BitcoinEthereumNews.com.

XRP is experiencing a notable increase in buying pressure, potentially laying the groundwork for a push toward the key $3 resistance level. Over the past 24 hours, XRP’s market capitalization has surged by approximately $6.25 billion, rising from $127.97 billion to $134.22 billion. XRP one-day market cap chart. Source: CoinMarketCap This influx of capital is reflected in the price action, with XRP currently trading at $2.29, up more than 4% on the day and nearly 6% over the past week. XRP seven-day price chart. Source: Finbold From a technical standpoint, XRP is hovering around its 50-day simple moving average (SMA), a level often viewed as a critical short-term trend indicator. The price remains well above its 200-day SMA at $1.90, reinforcing the asset’s longer-term bullish trajectory.  Meanwhile, the 14-day Relative Strength Index (RSI) stands at 46.61, suggesting neutral momentum but leaving room for considerable upside. XRP’s path to $3 Looking ahead, pseudonymous crypto analyst Theodor Coin highlighted in a June 8 CoinMarketCap post that certain key price levels may help XRP reclaim the $3 mark. According to the analyst, XRP has spent the past two weeks consolidating within a narrowing range and experiencing decreasing volatility, a setup that often precedes sharp directional moves historically. He noted that the current clustering around the $2.20 to $2.25 zone indicates sellers may lose conviction, although bulls have yet to take full control.  XRP price analysis chart. Source: CoinMarketCap However, he emphasized that a breakout above $2.27, especially if supported by strong volume, could spark a rally toward $2.90, potentially forming the right shoulder of a larger reversal pattern. On the flip side, a breakdown below $2.20 might see XRP retesting $1.99 or even sliding toward the broader $0.99 macro support level if sentiment deteriorates sharply.  For now, with momentum leaning positive, it appears…

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Filed under: News - @ June 8, 2025 5:25 pm