XRP Plunges 10% From Peak—Is $3.80 Still in Play?

XRP's rally hits a wall as prices tumble 10% from recent highs. Traders scramble as the digital asset sheds gains—was this just profit-taking or something more sinister?

When will the rebound come? Analysts eye key support levels while the $3.80 price target dangles like a carrot for bulls. Meanwhile, skeptics whisper about 'typical crypto volatility' as leveraged positions get liquidated.

One thing's certain: in crypto, even the 'sure bets' come with a side of heartburn. Just ask the bagholders from 2018.

Can XRP Hit $3.80 Next?

XRP has some support at its current price level. The asset also has some liquidity at the $2.5 price level. If the asset continues to face a dip, it could fall to $2.5 before making an upswing.

XRP’s latest fall follows a market-wide dip following Bitcoin’s (BTC) decline to the $115,000 level. The correction was likely to investors booking profits after one of the most significant rallies in the crypto market. BTC, XRP, and BNB hit new all-time highs over the last two weeks.

The correction may have also been triggered by market participants taking caution ahead of the Federal Open Market Committee (FOMC) meeting on July 29. The minutes of the meeting will give insights into the Federal Reserve’s monetary policy. The Federal Reserve has kept interest rates unchanged so far in 2025. There is a chance that the Federal Reserve will break its streak this time. A rate cut could lead to a sure in risky investments. Such a scenario could push XRP to a new all-time high of $3.80.

XRP also has a few spot ETF applications awaiting approval at the SEC. An ETF approval will likely lead to a spike in institutional investment for the asset. XRP could go much further north than $3.80 under such conditions.