XRP analysis: Will XRP drop below $1 before the Bull Run?
XRP down 3% after failing to break $1.45. $1.40 support is key. Get the latest XRP price analysis and potential scenarios.
Critical Failure at $1.45: Sellers Regain Control
The market was hoping for a bullish breakout, but a bearish scenario is emerging in the short term. XRP failed to transform the $1.45 zone into support, triggering a massive wave of selling. According to the 16-hour Volume Profile Order block, numerous sell orders have been placed between $1.46 and $1.41, creating strong resistance that could push XRP’s price toward the bottom of its range.
Currently, the price is testing the strength of the $1.40 zone. This level acts as the last line of defense before a potential slide to lower levels. Technical indicators show a loss of momentum, and buyers’ inability to maintain pressure above $1.45 suggests a move within the range down to $1.07, or even a deeper retracement to break the low below $1 and force “weak hands” into panic selling.
Scenarios: Can XRP Bounce Back or Will It Plunge?
The technical situation is tense. If XRP manages to defend the $1.34 support with a bounce on strong volume, a new test of the resistance at $1.45 is conceivable. This scenario would validate a range structure and restore hope for bulls to resume the rally. Moreover, 2 bullish divergences in the 16H RSI indicate accumulation by smart money.
Conversely, a close below $1.34 would validate a major technical breakdown. In this case, the next support level monitored by analysts would likely be around $1.07. Such a drop would invalidate the recent recovery attempt and could plunge XRP into a longer corrective phase.
The market is at a crossroads. With an RSI that could approach the oversold zone in case of a breakdown, some aggressive traders might attempt to play the bounce at $1.40. However, caution remains advisable as long as selling pressure dominates. Will XRP manage to save its support or are we heading toward $1.30?
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Charles Ledoux
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
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