XRP has recently seen a significant decline after reaching a multi-year high above $3.66. The price dropped below $3.40, raising concerns over a potential fall to $3. A strong rebound at this level could attract bullish buyers, while failure to sustain gains might indicate profit-taking behavior among short-term traders. Analysts are watching key support at the 20-day exponential moving average ($2.99), where a rebound could signal buyer interest. Should XRP fail to recover and break below this EMA, it might confirm that the previous breakout above $3.40 was a false signal. On the downside, support levels are noted at $3 and $2.80, while resistance lies at $3.66. If momentum picks up, XRP could surge to $4.86, but caution is advised as risk of falling to $2.60 persists if bearish sentiment continues to dominate the market.

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