XRP broke out of a multi-day consolidation on Saturday evening, falling below the $1.93 support area as increased trading volume confirmed sellers were in control, although the broader cryptocurrency market remained mixed.
news background
- The move comes as risk appetite across the cryptocurrency space generally cools, with Bitcoin struggling to sustain its recent rally and broad-cap altcoins facing selective pressure rather than widespread capitulation.
- Analysts note that XRP has been vulnerable since falling below the $2.00 mark earlier this month, with multiple rallies failing to attract a sustained follow-through.
- Glassnode’s on-chain data shows that below $1.77, the actual supply decreased significantly until the $0.80 area, a level that previously marked heavy accumulation in the early cycle.
- While this remains a longer-term scenario, the loss of intermediate support increases sensitivity to downside extension.
technical analysis
- XRP spent most of the session trading within a range of $1.90 to $1.95 before sellers forced it to break above the lower limits.
- The $1.93 area, which had been tested multiple times, collapsed during the US session on volumes well above recent averages.
- The most decisive move occurred around 13:00 UTC, when the price dropped to $1.897, with trading volume of approximately 93.8 million coins, approximately 78% higher than the 24-hour average.
- This move turned the previous support area into a resistance area and confirmed the failure of the previous consolidation structure.
- On the hourly chart, XRP is currently trading below its short-term moving average, with the momentum indicator rolling over instead of showing divergence. The inability to quickly regain $1.93 has resulted in a lower near-term bias.
Price trend summary
- In the 24 hours ending at 02:00 UTC on December 22, XRP fell from $1.926 to $1.915
- Prices surged as high as $1.95 earlier in the session before reversing sharply
- Late losses sent XRP down to $1.907 in the final hour
- Volume is accelerating into a collapse rather than weakening, indicating active selling rather than thin liquidity
Although there was some dip buying around $1.90, the rebound lacked momentum and the price failed to re-enter the previous range.
What traders should know
- $1.93-$1.95 Now Acts as Post-Breakout Resistance Band
- $1.90 is the first level that bulls need to defend to prevent a subsequent sell-off
- According to on-chain cost base data, a net loss of $1.77 would expose a thinner demand area until around $0.80
- Any recovery attempt would require a quick retracement of $1.93 on rising volume to offset the current setup
Currently, XRP remains technically fragile, with sellers controlling the rally and buyers having limited confidence in higher levels.
