XRP price is facing renewed selling pressure, dropping below the $3 support level amid $1.2 billion in short positions.
By Bhushan Akolkar
Editor Julia Sakovich
Updated
2 mins read
XRP XRP $2.93 24h volatility: 2.7% Market cap: $174.29 B Vol. 24h: $6.74 B price volatility over the past week has confused investors about whether the bottom is in, or if more downside is left.
After reclaiming the $3.0 support level, short sellers are now betting against the Ripple-related cryptocurrency, with a massive $1.2 billion in short positions. Some market analysts show how XRP has closely followed the BTC BTC $110 966 24h volatility: 3.4% Market cap: $2.21 T Vol. 24h: $50.47 B price trajectory in recent weeks.
Market analysts observe that XRP has largely followed the Bitcoin price trajectory over the past few weeks. With Bitcoin retracing from its all-time highs of $124,000 to $112,000, XRP has also faced a similar selling pressure during the same period.
Popular crypto analyst CrediBULL Crypto noted that XRP price can rally to $3.6 to $4.0. However, the author noted that the exact target will depend on the Bitcoin price performance at the time.
Primary target for this next swing up on $XRP to range highs puts us at $3.60-$4 depending on where $BTC is at when we hit it.
I'll be taking profits on scalp/swing longs when we hit that region (most likely). Spot will of course continue to be held till double digits. https://t.co/RyaigLVfvp pic.twitter.com/k7GPvscK9a
— CrediBULL Crypto (@CredibleCrypto) August 25, 2025
CrediBULL Crypto noted that he still expects the spot XRP to hit $10 and more in the long term. Speaking on the development, pro-XRP lawyer Bill Morgan also affirmed that the XRP price action is largely correlated to Bitcoin.
And as XRP price movement is correlated heavily to bitcoin price movement, one may conclude that it is investors dumping bitcoin who are more likely responsible for sharp falls in the price of XRP than Ripple. This is a reality as far removed as one can imagine from the ripple… https://t.co/afJjt8wGJh
— bill morgan (@Belisarius2020) August 24, 2025
As of press time, XRP is once again facing selling pressure, down by 3.14% and slipping under the support of $3.0. Market analysts weigh the importance of how crucial it is to regain above this support, which has acted as a strong resistance in the past.
EGRAG Crypto stated that XRP must remain above $3.03 for the next seven days to record the highest monthly full-body candle close in the token’s history. Another popular analyst, Dark Defender, noted that XRP previously confirmed a bull flag pattern in November 2024, rising from $1.13 to $2.40 as projected.
We discussed a Bull Flag scenario on 20-Nov-24 & expected XRP to appreciate from $1.13 towards $2.40
This was ✅#XRP is now getting ready to perform a similar BULL FLAG scenario to travel from:
Targets|: $3 to $4.39 – $5.85 shortly
Supports: $3, $2.85Enjoy your weekend! pic.twitter.com/m5bs2wgPKW
— Dark Defender (@DefendDark) August 23, 2025
The analyst now anticipates a similar bullish setup, with targets between $3 and $4.39–$5.85, while identifying key support levels at $3 and $2.85.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
