After fluctuating in a narrow range for weeks, XRP has reversed its direction downwards with the recent movement in the market. With the retesting of the resistance at $1.36, the failure of upward attempts attracted attention. For XRP, the $1.30 band is seen as a critical level between investors’ risk of consolidation and larger declines.
Critical support and resistance levels
XRP traded in a very narrow 1.9 percent band over the last 24 hours, falling from $1.3457 to $1.3366. The clearest move during the day came during an attempt to break above $1.3620. The increase in transaction volume caused the rise to quickly turn into selling pressure. After falling below the $1.35 level, XRP closed the day around $1,336, taking on a bearish outlook after weeks of horizontal trend.
Some analysts evaluated this move as confirmation of a downward break in the symmetrical triangle formation. According to this view, the current structure may result in a downward movement and the price may retreat to $1.14 levels. Some analysts state that there is no clear collapse yet and that the structure still indicates compression and pressure. This view will be at the forefront, especially as long as XRP maintains its presence above the important support level of $1.30.
Corporate interest and whale movements
It was shared that institutional investor-focused CME Group is preparing to launch XRP futures contracts, which will soon be traded 24 hours a day, 7 days a week. With this development, XRP’s visibility among institutional investors is expected to increase.
On the other hand, there was a significant decrease in transfers from large-scale investors. A large number of transactions on the XRP network have declined by more than 57 percent in the last nine days. This situation shows that the main actors in the market are being cautious in the short term.
Mini dictionary: CME Group is one of the world’s largest derivatives exchanges. The company provides institutional liquidity access to crypto markets by offering futures contracts for cryptocurrencies that can be traded continuously and 24/7.
Market structure and possible scenarios
According to technical analysis, XRP is priced below many important moving averages. Resistance at $1.36 continues to counter attempts to the upside. In the current situation, the range between $1.30 and $1.31 stands out as strong support, and $1.35 stands out as the first resistance level to be overcome in the short term. As long as these bands are followed, upward and downward fluctuations may continue in the short term.
| Level | Importance | Latest Status |
|---|---|---|
| $1.30–$1.31 | Support | critical threshold |
| $1.35 | Resistance | could not be exceeded |
| $1.36 | Main Resistor | There are strong sellers |
Different opinions and trading environment
There is no single opinion on XRP in the market. While some experts describe the short term as challenging, others highlight the possibility that the squeeze could be the start of a new trend. In particular, the impact of continuous futures contract transactions to be initiated in CME on market volatility and liquidity is eagerly awaited.
The short-term selling momentum accelerated as XRP fell below $1.35, but as long as it remains above 1.30, the possibility of a possible recovery remains on the table.
