XRP price has dropped nearly 20% in 45 days, hovering around $2.70 support in a descending triangle pattern. Leverage reset and signs of accumulation reduce liquidation risks. A potential 60% to 85% rebound in Q4 is suggested by fair value gap, Fibonacci retracement, and fractal pattern. Onchain and futures data show XRP market cooling with a drop in open interest but reduced speculative exposure. Estimated leverage ratio has reset to yearly average, signaling reduced risk of cascading liquidations. Onchain indicators point to early signs of reversal with net taker volume moving closer to neutral and aggregated spot CVD showing accumulation. Futures positioning indicates clearing of crowded positions. XRP continues to test support near $2.70, with a fair value gap between $2.35 and $2.65 as a key zone to watch. Fibonacci retracement levels support price stabilization and potential rebound. Market structure resembles a Q1 fractal pattern, suggesting gains of 60% to 85% in Q4. Crypto trader Javon Marks sees XRP target at $4.80 with a potential +66% upside as long as prices hold above $2.47.

Read more at Cointelegraph: XRP Eyes Rebound After $2.70 Support Breaks: Here’s Why