Recently, the XRP market has experienced increased fluctuations, attracting significant attention from investors. The current price is hovering around 3.14, near a key support level. The technical analysis shows that the XRP daily chart RSI indicator has dropped to 22, indicating a possible oversold rebound. The lower band of the Bollinger Bands at 3.08, along with the dense buying area around 3.1, has formed a short-term 'spring zone', providing support for long positions.

From the perspective of trading volume, the level around 3.461 (trading volume 833M) is the main target for long positions. The range from 3.17 to 3.23 (trading volume 626M) is the primary resistance level for the day. It is worth noting that the trading volume in the range of 3.08 to 3.12 is relatively low, and the price may quickly cross this area. If it breaks below 3.08, the price may further decline to 2.90.

The momentum indicator shows that the downward trading volume in the 3.10 to 3.14 range accounts for 54%, which has not yet reached extreme levels. However, if it can break through 3.17 with increased volume, it may indicate that long positions are regaining control. At the same time, the MA200 moving average is forming resistance near 3.29, while the lower band of the Bollinger Bands at 3.08 provides support.

In the futures market, the open interest has net outflow by 20.7% over the past 7 days, and the funding rate is slightly negative, indicating that short positions still dominate. This situation may lead to additional selling pressure.

For traders, consider going long with a small position near 3.10, setting a stop-loss at 3.075, and targeting price levels of 3.17 or 3.46. A more conservative strategy is to wait for the 15-minute candlestick to close above 3.17 and then buy on a pullback to 3.15, with a stop-loss at 3.12. If the price falls below 3.08, one can short when it rebounds to 3.10, targeting 2.90.

Overall, XRP is currently in a mid-term downward fluctuation trend, but may enter the 'panic bottom' phase in the short term. Investors should closely follow potential rebound opportunities. At the same time, considering the uncertainty in the market, it is recommended to strictly control positions and manage risks.