The $1.40 level has been breached for XRP, with the nature of the breakdown being more significant than the move itself. This was not a gradual decline but a high-volume surge that cleared a level buyers had been defending for weeks. Once such support is lost, it typically does not recover quickly and often flips, which is the current test.
Background Information • Bitcoin's dominance approached 60%, indicating a shift away from altcoins and limiting the demand for XRP. • The multi-month triangle structure that had been compressing prices finally resolved, but instead of triggering the anticipated upside, it broke lower. Price Action Summary • XRP plummeted from $1.44 to $1.39, cleanly breaking through the $1.40 support zone. • The move was driven by a significant 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 Insight • 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, not merely positioning noise. • The triangle pattern that held prices for weeks has resolved lower, thereby removing the compression support.
• Short-term bounces are emerging but are reactive and not strong enough to reverse the move yet. Key Points for Traders • $1.40 is now the pivot point.
Reclaiming it with volume would make the breakdown appear like a false move. • $1.37 is the next significant downside level. Losing that would pave the way towards deeper support near $1.31.
• If the price continues to hold below $1.40, sellers remain in control, and rallies are likely to be sold.