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$XRP has climbed back above $1.40, a level that has acted as a magnet for its price over the past month. One analyst who tracks order flow says the bigger picture looks healthy, but he expects $XRP to dip once more before it can push into the $1.50s.
Why $1.40 matters
The $1.40 level marked the point of control for both the previous week and the previous month, the price where the most trading took place. $XRP broke above it on Sunday after a strong green candle.
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The analyst said that move came from short sellers closing their positions rather than a full short squeeze. He called it “bullish structural development” but warned that the short-term picture “remains quite fragile.”
A strong bounce from $1.34
On the higher time frames, he sees $XRP in good shape. Last week, the price bounced hard from support at $1.34, and he said the buying at that low was strong enough to hold. $XRP has traded inside the same range for about a month and a half, and he expects it to eventually reach the top of that range.
The market backdrop is supportive
Several outside factors are working in $XRP’s favour, according to the analyst:
He also said that open interest in $XRP futures has fallen sharply while the price holds steady. That leaves room for new leveraged positions to enter, which could fuel the next move.
Why a dip may come first
Sunday’s rally left behind small price gaps at $1.39, $1.38 and $1.37. Markets often return to fill such gaps. With several resistance levels overhead, the analyst expects $XRP may briefly spike higher before falling back to test those lows.
“I think ultimately we’re going to test those lows once more before we actually will have a shot at getting back into the 1.5s,” he said.
Key $XRP levels this week
He expects a quiet week with little volatility, and said he is unsure whether current conditions will allow a fast move higher.
