XRP fell below the $1.40 level it had maintained for a long time, and this development marked a remarkable change in the cryptocurrency market. In recent weeks, the price tried to maintain its stability at this support level, but with the strong selling pressure, the price of XRP first dropped to $ 1.38 and then continued to remain below $ 1.40.
Weakening signals in the altcoin market
In the background of this process, the fact that Bitcoin’s market dominance is approaching 60 percent shows that investors are moving away from altcoins and turning more towards Bitcoin. While similar movements are observed in other altcoins, this loss in XRP also shows the general fatigue of the market.
In the market where horizontal movement dominated for a long time, this break in XRP pointed out a very clear decline. Following the previous period of consolidation, the price lost balance with strong volume for the first time and began pricing below the critical support point of $1.40.
New support and resistance levels
In the next period, $ 1.40 has become a resistance level, and it is predicted that sales will occur as long as the price cannot rise above this threshold. If $1.40 is not breached again, the next major support lies at $1.37. If this is lost, there may be a risk of a decrease to the $ 1.32-1.28 range.
The selling pressure is supported by a net increase in volume, indicating that this movement is driven by actual sales, not low liquidity. The fact that the price continues to consolidate below $1.40 indicates that buyers are not strongly engaged at the moment and reaction buying remains weak.
With the loss of the $1.40 support, this level will now be watched as resistance. If the price does not rise above $1.40 in the short term, it is considered that upward attempts may remain limited and XRP may continue to face selling pressure.
Importance of price movement
According to market observers, a downward break of such strong support levels is considered an important indicator that the trend has turned in favor of the bear in the short term. In particular, the fact that the last move was supported by strong trading volume shows that the move caused a significant change in market perception rather than a temporary sag.
Short-term recovery moves have been limited so far; It is observed that market players are acting cautiously in this region, which is under critical support, and a strong buying appetite has not yet emerged.
For XRP, a sustained break above $1.40 again in a short period of time could lead to the current bearish trend being invalidated. However, as the price remains below this threshold, the risk of the downward movement continuing and the pressure on the sell side becomes stronger.
