XRP, one of the most established players in the cryptocurrency market, caused a huge fluctuation in the market after its sharp rise over the weekend. The altcoin, which made a huge jump of 20% in intraday transactions and climbed to the level of $ 1.67, quickly gave back its gains due to the intense sales pressure it encountered at this point, turning its investors into a corner. The price, which broke its course downward as investors took profits, fell to critical support areas in a short time, deepening the uncertainty in the market.
Selling Pressure and Technical Breakdown in XRP
Things have become complicated for XRP, which has been defending the $1.80 – $1.85 band as a strong fortress for weeks, with the loss of this region. The break below this level, which was once seen as the safest haven for bulls, caused serious damage to the market structure of the altcoin. The price, which is currently trying to balance around $ 1.48, is trying to heal the wounds of the hard blow it received from the $ 1.67 resistance. The long upper wicks seen on the daily charts prove that the buyers’ appetite is suppressed by professional sellers every time.
In the phase where the decline deepened, the altcoin took a breather by gaining strength from the area called the “demand zone” between $ 1.15 and $ 1.06. However, this recovery effort has not yet been enough to turn the trend upwards. While the swelling of the transaction volume during the decline indicates that panic and exits from the market are intensifying, OBV (On-Balance Volume) data confirms that the capital inflow has weakened. The fact that technical indicators such as DMI remain in the negative zone constitutes one of the most concrete evidence that the bears are still in the game and in control.
Market actors are expecting a voluminous and decisive comeback so that the momentum can shift back to buyers. Any process that is satisfied with only weak reaction purchases keeps the risk of the altcoin testing lower levels on the table. While the current structure has caused the majority of investors to switch to a “wait-and-see” strategy, the price’s course below $ 1.50 continues to keep concerns alive.
Critical Levels and Future Scenarios
At the short-term decision point that will determine the fate of XRP, the bulls’ first goal should be to recapture the $1.58 – $1.60 region. Daily closes above this resistance line can instill confidence in the market and open a new door towards the broad resistance cluster between $ 1.80 and then $ 1.98 – $ 2.18, respectively. In order for the bulls to fully regain control, this region must be crossed with unwavering determination.
In case of downside risks, the $1.40 level is the most sensitive buffer zone. If it falls below this support, it seems likely that the selling pressure will intensify and the price will fall back to $ 1.15 – 1.06 levels. If this region cannot be defended, the possibility of XRP falling below the psychological limit of $ 1 poses a serious threat. The close over the next few days will clarify whether this move is a healthy correction or the beginning of a deeper decline.
The current chart reflects that the market is in a stabilization phase but the upward momentum is yet to be confirmed. Investors will remain cautious unless they see a recovery supported by volume growth. How XRP will get out of this critical turning point will have the power to affect not only its own price but also the general psychology of the altcoin market.
