coindesk.com
$XRP sold off sharply as broader crypto weakness pushed price through a key floor, with heavy volume suggesting forced selling rather than a slow drift lower.
News Background
- $XRP fell alongside a broad risk-off move in crypto that pressured majors and high-beta tokens alike.
- There was no $XRP-specific catalyst driving the drop; instead, the move looked positioning-led, with sellers accelerating once technical support gave way.
- The decline follows a choppy period where rebounds struggled to attract follow-through, leaving $XRP vulnerable when market-wide sentiment turned.
Price Action Summary
- $XRP fell about 6.3%, sliding from $1.65 to $1.54
- The break below $1.60 accelerated selling
- Volume surged at the breakdown, consistent with forced activity
- Price held near $1.54 into the close after a late-session flush
Technical Analysis
$XRP broke decisively below $1.60, triggering a high-volume selloff that pushed price toward $1.54. The bounce attempts that followed failed to reclaim $1.56, keeping near-term structure bearish.
Former support around $1.60–$1.62 now flips into resistance, with sellers defending rallies. The market is now trading around a key decision area: if $1.50 doesn’t hold, the next downside zones traders reference sit near $1.38, with a deeper risk level around $1.02.
Key levels:
- Support: $1.54, then $1.50
- Resistance: $1.56 first, then $1.60–$1.62
What traders say is next?
- Traders see this as a breakdown-first tape: any rebound is suspect until $XRP can reclaim $1.60–$1.62 with volume.
- If $1.50 holds, $XRP may stabilize and build a base — but bulls need to get back above $1.56 quickly to reduce downside pressure.
- If $1.50 breaks, traders expect momentum to extend toward $1.38, with risk of a deeper move if broader market weakness persists.