XRP continued its downward trend in the latest trading day, with the price falling back to around $1.15, a 24-hour drop of approximately 3.4%. This decline was accompanied by a significant increase in trading volume, and market attention has returned to the key level of $1.15.
A significant drop in trading volume occurred near 15:00 UTC.
Data shows that XRP fell from $1.1873 to $1.1465 in this 24-hour trading session. The most significant sell-off occurred around 15:00 UTC, when trading volume surged to 134.2 million XRP, approximately 170% higher than the average.
During this decline, support around $1.1550 was broken. Although buying subsequently entered the market around $1.13, briefly pushing the price back up to around $1.15, XRP failed to regain this level by the close of trading.
$1.15 has become a short-term resistance level.
The market had previously viewed $1.15 as a key support level following last week's rebound. Now that this level has been breached, its short-term meaning has changed, and traders are more inclined to see it as the first resistance level that needs to be retaken.
Looking at a more detailed range, the immediate support level is around $1.13 to $1.14. If the price continues to weaken, the next more significant support level is around $1.10. Resistance is concentrated between $1.17 and $1.25.
- Near-term support: $1.13 to $1.14
- Key support: around $1.10
- Resistance levels: $1.17 to $1.25
The pressure at $1.25 has not yet been relieved.
The report points out that XRP had previously attempted to break through the downtrend line near $1.25 again, but failed. This trend line has repeatedly suppressed rebounds in the past few months, making $1.25 continue to be the most watched upper resistance zone on the chart.
Looking at a longer timeframe, XRP remains within a symmetrical triangle pattern that has lasted for about a year, with price fluctuations compressed between support at approximately $1.10 and resistance at $1.25. This pullback suggests that the market has not yet broken out of this range-bound trading pattern.
Another noteworthy signal is that trading volume increases during the decline, rather than during the rebound. This usually means that sellers still hold the upper hand in the short term, and while buying activity has emerged, it is not strong enough to reverse the trend.
