XRP struggled to sustain its recent momentum as it failed to reclaim the $3 mark. After enjoying a relatively strong weekend that kept sentiment leaning positive, selling pressure emerged on Monday, which pushed the price back down to $2.95.The correction phase may not be over yet, as on-chain data points to rising exchange inflows across multiple value bands, a pattern that is often linked to profit-taking behavior.XRP at CrossroadsHistorically, XRP’s major peaks, such as $3 in 2018, $1.9 in 2021, and $0.9 in 2023, were all preceded by significant spikes in exchange deposits. CryptoQuant explained that this means investors and whales sent tokens to trading platforms to realize gains.Entering 2025, XRP surged to the $3.5-$4 range, and inflows, particularly from large holders in the 100K-1M+ XRP range, reached exceptionally high levels. Such moves strongly imply that whales are beginning to offload holdings and introduce increased short-term selling pressure.Currently, the crypto asset is consolidating below $3, yet inflow levels remain high, thereby keeping downside risks in focus. Should the selling pressure intensify, a pullback toward the $2.8 support zone appears plausible.However, if the crypto asset is able to reclaim and hold $3 level, it could serve as a critical base for the next bullish advance. The key resistance area sits at $4.2-$4.5, and a successful breakout above that range could pave the way for a new price discovery phase.Structurally, the analysis revealed that XRP is stronger than during past cycles, and has maintained a firm long-term uptrend. Therefore, while the short-term outlook indicates caution, the broader trajectory still supports the possibility of XRP targeting $5 or higher later in 2025.These on-chain signals are consistent with Elliott Wave forecasts.Make-or-Break Level for XRPElliott Wave analyst Avi Harkishun spoke about two key scenarios based on critical support levels. In his tweet, Harkishun noted that as long as the current $2.95 level holds firm, XRP retains a bullish structure. The next upside target is projected between $4.00 and $4.40.However, he also outlined a cautionary path – if $2.95 breaks decisively, XRP could enter a corrective phase through a WXY double correction pattern, and potentially retrace toward $2.40 at the high-volume node, an area of historically strong liquidity. In short, the altcoin’s next move will be determined by whether buyers can defend the $2.95 threshold or whether sellers force a breakdown.Other market commentators are also weighing in on XRP’s next move. Crypto analyst Ali Martinez, for one, struck a bullish tone, as he tweeted that “it won’t take long before the token is back at $3.70!”The post XRP Crashes Back Under $3: Deeper Correction or Bounce-Off Next? appeared first on CryptoPotato.