Following a sharp sell-off, XRP fell below the $1.40 level and is still struggling to recover, with buyers unable to significantly push the price higher. The weak rebound suggests selling pressure remains greater than demand, keeping the coin under pressure as traders look for signs of stability near current levels.
news background
- XRP is trading lower amid overall weakness in cryptocurrencies, but the key driver is technicals, with the price falling below recent support at $1.40.
- The coin has struggled to sustain a recovery since mid-March, with the rally continuing below the $1.55-$1.60 area.
- Spot ETF flows showed limited improvement, with weekly inflows of $636,000, well below previous demand, indicating low institutional participation.
Price trend summary
- XRP fell from $1.4404 to $1.3872, down about 3.7% in 24 hours.
- Heavy volume near 23:00 pushed the price to $1.4018 before support disappeared.
- The price then consolidated between $1.38 and $1.42, forming an intraday bearish structure.
- A late rally attempt towards $1.386 failed, adding to the recent weakness.
technical analysis
- A break below $1.40 is a key development, confirming the loss of short-term structure and shifting momentum to sellers.
- Price is currently trading in a descending channel between approximately $1.38 and $1.42, with declining volume forming lower highs – a typical distribution pattern.
- Attempts to regain $1.40-$1.41 have been rejected, with this level acting as immediate resistance.
- The overall trend remains bearish, with XRP remaining within a multi-month downtrend defined by lower highs from mid-2025.
What do traders say will happen next?
- Traders are focused on whether the $1.38 to $1.40 area can serve as support.
- If this range stabilizes, XRP may consolidate before making another attempt towards $1.41-$1.44, with a broader test near $1.55 required to change the structure.
- A complete break below $1.38 would expose the $1.30-$1.32 area, where support is weak and the downside could accelerate.
- For now, momentum is in favor of sellers and any bounce will be considered a correction until resistance is reclaimed.
