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?
Related Articles:
