The $1.40 threshold was ultimately breached by XRP, with the nature of the breakdown being more significant than the move itself. This was not a gradual decline, but rather a high-volume push that cleared a level that buyers had defended for an extended period. Once such support is lost, it typically does not recover quickly, instead often flipping, which is now being put to the test. Background News • Bitcoin's dominance approached 60%, indicating a rotation away from altcoins and limiting the demand for XRP.
• The multi-month triangle structure, which had been compressing prices, finally resolved, with the move breaking lower rather than triggering the anticipated upside expansion. Summary of Price Action • XRP plummeted from $1.44 to $1.39, breaking through the $1.40 support zone. • The move was driven by a sharp increase in participation, rather than thin liquidity.
• The price is now stabilizing just below the breakdown level, trading within a narrow $1.39–$1.40 range. Technical Analysis • The key change is structural, with $1.40 transitioning from support to resistance unless quickly reclaimed.
• The expansion of volume into the breakdown confirms genuine selling pressure, rather than mere positioning noise. • The triangle pattern that held prices for weeks has resolved lower, removing the compression support. • Short-term bounces are emerging, but they are reactive and lack the strength to reverse the move at present.
Key Points for Traders to Watch • $1.40 now serves as the pivot point. Reclaiming it with volume would make the breakdown appear like a false move.
• $1.37 is the next downside level. Losing that would pave the way for a move towards deeper support near $1.31. • If the price continues to hold below $1.40, sellers will remain in control, and rallies are likely to be met with selling pressure.