XRP continues to find buyers near major support, but continues to lose support anyway. The latest drop saw the token return to the same $1.10 zone that several analysts had pointed to as a key line in the sand, and selling pressure accelerated once it gave up $1.13.
News background
• Several analysts pointed to the $1.09 area as an important Fibonacci support level that XRP had been approaching for months.
• XRP remains stuck below its 100- and 200-day moving averages, underscoring the broader bearish trend despite periodic relief rallies.
• Trading activity increased during the sell-off before quickly normalizing, suggesting a large repositioning event rather than a steady increase in bearish conviction.
Price Action Summary
• XRP fell from $1.1505 to $1.1248 during the 24-hour session, losing more than 4%.
• The decline accelerated after the price lost support near $1.13, with volume increasing to 109.9 million XRP, more than double the daily average.
• XRP subsequently tested support near $1.1240 before stabilizing towards the close as the selling momentum began to fade.
Technical analysis
• The most important development was the loss of the support at $1.13, which now becomes the first resistance level in any recovery attempt.
• Volume confirmed the movement. The sell-off came in some of the strongest activity seen in months, suggesting an active sell-off and repositioning rather than passive weakness.
• At the same time, momentum indicators are approaching oversold territory. Daily RSI readings have fallen close to levels that historically preceded at least short-term relief rallies.
• The broader structure remains bearish. XRP continues to trade within a descending channel and below all major trend indicators that long-term traders monitor.
What traders should keep in mind
• Between $1.10 and $1.12 is now the key support zone. A decisive break lower would increase the risk of a move towards $1.00 and potentially the $0.80-0.90 region.
• $1.13 is the first level that bulls need to reclaim to relieve immediate bearish pressure.
• Beyond that, attention shifts to $1.20 and then the larger resistance zone of $1.35 to $1.40, where previous recovery attempts failed.
• The configuration is increasingly compressed. Either buyers finally defend the current support area with conviction, or XRP risks turning a difficult correction into a much larger breakout.
