The crypto market is under pressure again, and the XRP price is feeling the heat. After touching a high near $3.65 in mid-July, XRP has now slipped below $2.85, showing that the recent rally is losing steam. The entire market is correcting, with Bitcoin and major altcoins pulling back after weeks of strong gains.
Elite analyst Ali Martinez (@ali_charts) shared a new 3-day XRP chart and a warning for Ripple’s community. His post highlighted that XRP flashed a TD Sequential sell signal, a technical indicator that often predicts short-term trend reversals. He also marked $2.40 as the next key support level, suggesting the correction may not be over yet.
Analyzing Ali’s XRP Chart
Ali’s chart shows how XRP spiked to new cycle highs before the current pullback began. The chart highlights a TD 9 count, which historically signals potential tops in crypto markets. After this signal appeared, XRP struggled to hold above the $3.40 zone and quickly broke lower.
Volume profile bars on the left side of the chart show that the heaviest trading activity happened between $2.20 and $2.50. This area could act as a strong support if the price continues to fall. A decisive break below $2.85, which has already happened, opens the door for a deeper test of the $2.40 zone, which Ali flagged in his tweet.
Ali’s Warning and Market Context
In his tweet, Ali reminded traders that the TD Sequential indicator gave a clear sell signal on the 3-day chart. He wrote that $2.40 is the next level to watch, signaling that the correction might extend if selling pressure increases.
This caution comes while the overall crypto market is in a corrective phase. Bitcoin is consolidating, but altcoins are facing sharper declines as traders take profits after weeks of bullish momentum.
XRP’s strong rally to $3.65 was impressive, but rapid gains often lead to sharp corrections. The current pullback looks healthy from a technical perspective, as markets rarely go straight up without retracing.
If XRP holds $2.40–$2.50, the long-term bullish trend can remain intact. But if that support fails, traders should be ready for a deeper dip toward the $2.20 range.
Ali’s analysis serves as a reminder that even in bull cycles, risk management is key. For now, XRP holders are watching the charts closely, waiting to see if this correction will create the next big buying opportunity.
Read also: Top Analyst Reveals What Ripple (XRP) Price Will Do in August and September
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