The $1.40 threshold has finally been breached for 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 been defending for weeks. Once this type of support is lost, it typically does not rebound quickly and instead tends to flip, which is the current test. News Background • Bitcoin's dominance has approached 60%, indicating a rotation out of altcoins and limiting the demand for XRP.
• The multi-month triangle structure that had been compressing prices has finally been resolved, with the move breaking lower instead of triggering the expected upside expansion. Price Action Summary • XRP plummeted from $1.44 to $1.39, breaking cleanly through the $1.40 support zone. • The move was driven by a sharp spike in participation, rather than thin liquidity. • The price is now stabilizing just below the breakdown level, trading within a tight $1.39–$1.40 range.
Technical Analysis • The key shift 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 just positioning noise. • The triangle pattern that held the price for weeks has resolved lower, removing the compression support. • Short-term bounces are emerging, but they are reactive and not strong enough to reverse the move yet.
What traders should watch • $1.40 is now the pivot point. Reclaiming it with volume would make the breakdown appear like a fakeout. • $1.37 is the next downside level. Losing that would open the path toward 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 sold.