The XRP price fell with a rapid and high-volume sell-off below the $1.40 level, which buyers have been trying to hold on to for a long time. The triangle formation, which has been putting pressure on the price for the last few weeks, has been completed downwards. This move fundamentally changed the short-term outlook for XRP, with the collapse of the support level that buyers were defending.
Strong Selling Pressure
Rather than an ordinary downward movement, the breakout occurred in an environment where volume increased significantly and selling pressure increased. In recent trading, XRP fell rapidly from $1.44 to $1.39. The $1.40 support, which buyers defended for weeks, could not be maintained this time and the price slid down. The increase in transaction volume was interpreted as meaning that this decrease was not a temporary sag but a real sales wave.
The price is currently moving sideways in a narrow band between $1.39–$1.40. Although some reaction purchases were observed after the breakout, these increases have not yet turned into a strong recovery.
Increase in Bitcoin Dominance
Another important development was that Bitcoin’s market dominance approached the 60 percent level. Investors’ shift from altcoins to Bitcoin limited the increase in demand for many altcoins, including XRP. This rise in dominance indicates that risk appetite has decreased throughout the market and the search for a safe haven has strengthened.
Change in Technical Levels
The downward movement from the triangle formation shows that the $ 1.40 level will now serve as a resistance point as the price ends the compression process. If the price continues to remain below this level, the weight of sellers may increase and new selling pressures may come to the fore.
A quick break back above $1.40 in price could indicate that the recent decline is a misleading move. But unless this happens, the $1.37 level stands out as the next important support point. If this is broken, a new withdrawal potential may occur up to $ 1.31.
CryptoAppsy According to data, XRP is currently looking for balance in the $ 1.39–1.40 band, and in the near term, this band is seen as an important reference that will determine in which direction the uncertainty in the market will evolve.
Despite short-term reactions, investors are keeping a close eye on the support-resistance reversal. If the price cannot rise above $1.40 again, it is likely that bullish attempts will turn into selling opportunities.
Rising volume starting below the support level indicates that the sell-off may be permanent and upward movements will remain under pressure in the short term.
