Although the XRP price approached the $ 1.41 level during high-volume transactions during the day, it later attracted attention by falling below $ 1.40. With the general atmosphere in the markets being mixed, XRP’s price movements were shaped mostly based on technical levels. After the sudden sales recorded throughout the day, the price was stuck in a narrow range and created an important threshold in the short term in the $ 1.40 band.
The $1.40 level was decisive
After hitting $1.4109 during the day, XRP quickly retreated to $1.3987 due to the $103 million transaction volume and fell below the critical $1.40 support. While the selling wave brought the price down to $1.3865, XRP was stuck between $1.3925 and $1.4015 for a while due to the reaction from there. With the recovery attempt seen especially in the last part of the day, the $ 1.40 level was briefly exceeded again; However, permanence above this level could not be achieved.
The price’s decline below $1.40 caused this level to move from support to short-term resistance. The fact that the transaction volume peaked at the time of selling and decreased during the consolidation phase indicated that the selling pressure had eased. With this picture, there was no obvious advantage between buyers and sellers in the short term; price movements fluctuated between support and resistance levels.
Technical outlook and critical levels
XRP is currently trading in a narrow band between the $1.38 support and $1.41 resistance, leading to increased pressure. The direction of the cryptocurrency will become clear once this squeeze is resolved. In order for a particularly bullish move to begin, the price must solidly exceed $1.40 again. Analysts state that exceeding the $1.41–$1.42 range could accelerate the upward momentum. On the other hand, it is stated that if the $ 1.38 support is lost, it is possible for the price to drop first to $ 1.34 and then to $ 1.30.
CryptoAppsy According to XRP data, the price fell from $1.4109 to $1.3987 during the day, with most of the movement occurring with a trading volume of $103 million.
Market sentiment and expectations
While there was no new development or statement regarding XRP in the markets, the sentiment in the general cryptocurrency market remained mixed. For this reason, it was observed that prices on the XRP side continued to be squeezed around technical levels. The recent rapid downward movement has pulled the momentum down, but the range in which the price is stuck shows that the search for the future direction continues and the ground is formed for a possible new fluctuation.
“The $1.40 level has now stood out as a turning point. Permanently exceeding this level will strengthen the upward trend in the short term, and the $1.41-1.42 band may be a new testing ground in the future.”
As long as XRP prices hold above $1.38, downside risk remains limited in the short term. However, if a downward break occurs, a harsher correction may come into play. Otherwise, a regain of $1.40 will push the price back into the resistance zone.
In summary, XRP is looking for a clear direction in the short term. Which side the price will break the band it is stuck in will determine the level of activity in the coming period.
