Ripple’s native cryptocurrency, XRP, experienced a decline in price today, dropping below the crucial $3.00 mark. Following yesterday’s close near $3.10, selling pressure surged, pushing the token towards the $2.99 level and indicating a shift in market sentiment towards bearish territory. Traders are now watching closely to see if support at $2.85 can hold up against further downward pressure. 📅 Yesterday’s Prediction: We previously anticipated that losing $3.00 could send XRP toward the $2.85-$2.80 range, and this prediction proved accurate. The sideways scenario we expected between $3.00 and $3.30 failed to materialize. Instead, a clear bearish momentum has taken control. 📊 XRP Chart Analysis: On the 4-hour chart, XRP faces significant hurdles in recovering from the price drop. Every attempt to climb back above $3.10 is met by sellers, indicating their continued dominance in the market. The key support level now stands at $2.85, with a potential breach signaling a further drop towards $2.70 if bulls fail to provide resistance. An upside move for XRP would require bulls to push the token above $3.10-$3.20 to counter the selling pressure. 🔎 Indicators Overview: Volume has increased considerably following the price break, signifying a strong sell-off. Open interest is cooling down, indicating traders are reducing their long positions and minimizing risk. Net longs have fallen sharply while shorts are climbing, which aligns with the escalating bearish sentiment in the market. 💡 XRP Price Prediction for Today, August 18: 📈 Bullish Scenario: A quick recovery above $3.00 could stabilize the price momentarily before retesting $3.10-$3.20. Breaking through $3.30 would be necessary to restart momentum toward $3.50. 📉 Neutral Scenario: XRP might remain in a period of consolidation between $2.85 and $3.10 if buyers successfully defend this level. 🐻 Bearish Scenario: If selling pressure intensifies, XRP could tumble below $2.85, potentially even falling to $2.70. A deeper correction may push the price towards $2.50 in the near future. 👉 For now, XRP is under pressure after losing the $3.00 level. The key focus today will be on the $2.85 support line, which can serve as a potential floor for the coin. ➡️ Subscribe to our YouTube channel for daily crypto updates, market insights and expert analysis.