coindesk.com
$XRP keeps finding buyers near major support, but it keeps losing support anyway. The latest drop pushed the token back toward the same $1.10 area that several analysts had flagged as a key line in the sand, with selling pressure accelerating once $1.13 gave way.
News Background
• Several analysts pointed to the $1.09 area as a major Fibonacci support level that $XRP had been approaching for months.
• $XRP remains trapped below its 100-day and 200-day moving averages, underscoring the broader bearish trend despite periodic relief rallies.
• Trading activity surged during the selloff 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 breakdown accelerated after price lost support near $1.13, with volume surging to 109.9 million $XRP, more than double the daily average.
• $XRP later tested support near $1.1240 before stabilizing into the close as selling momentum began to fade.
Technical Analysis
• The most important development was the loss of $1.13 support, which now becomes the first resistance level on any recovery attempt.
• Volume confirmed the move. The selloff occurred on some of the strongest activity seen in months, suggesting active liquidation and repositioning rather than passive weakness.
• At the same time, momentum indicators are nearing 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 trading inside a descending channel and below every major trend indicator that longer-term traders monitor.
What traders should watch
• $1.10-$1.12 is now the key support zone. A decisive break lower would increase the risk of a move toward $1.00 and potentially the $0.80-$0.90 region.
• $1.13 is the first level bulls need to reclaim to ease immediate downside pressure.
• Beyond that, attention shifts to $1.20 and then the larger $1.35-$1.40 resistance zone where previous recovery attempts failed.
• The setup is becoming increasingly compressed. Either buyers finally defend the current support area with conviction, or $XRP risks turning a difficult correction into a much larger breakdown.