XRP is currently experiencing a 5.37% decline, testing the crucial support zone between $2.99 and $2.92. This pullback is a response to a significant $1 billion liquidation event in the crypto market, leading institutional investors to take profits. Analysts indicate that this support test is pivotal, as technical signals suggest a substantial price movement could be on the horizon. Additionally, the infrastructure surrounding XRP shows signs of readiness, which supports a potential recovery. Investors should watch this closely as the cryptocurrency navigates through this critical phase.