“The move followed multiple failed attempts to sustain momentum above recent resistance, leaving XRP vulnerable once support levels were tested again.”, — write: www.coindesk.com
News backgroundXRP declined 2.6% over the past 24 hours, falling from $1.95 to $1.90 as broader crypto markets showed signs of fatigue. The move followed multiple failed attempts to sustain momentum above recent resistance, leaving XRP vulnerable once support levels were tested again.
There were no fresh fundamental catalysts driving the selloff. Instead, the move unfolded in a technically sensitive zone, where positioning had built up following earlier rebound attempts. As price stalled near resistance, selling pressure re-emerged, overwhelming bids during the European trading session.
Technical analysisThe breakdown below the $1.93 Fibonacci level marked a clear technical failure. This zone had previously acted as a pivot during consolidation, and its loss shifts the short-term structure back in favor of sellers.
Volume expanded sharply during the rejection, with turnover rising 107% above daily averages, confirming that the move was driven by active distribution rather than low-liquidity drift. The rally attempt towards $1.95 showed early momentum with higher highs, but the inability to hold above $1.92 triggered systematic selling into strength.
From a structural perspective, XRP transitioned from range expansion to range rejection. As long as the price remains capped below the $1.93–$1.95 zone, upside attempts are corrective rather than trend-changing.
Price action summaryXRP traded through a $0.09 range during the session, initially pushing towards $1.95 before reversing sharply. Selling intensified once the price slipped back into the $1.92–$1.94 band, with bids thinning near the lower boundary.
Following the breakdown, XRP stabilized near $1.90, where selling pressure eased and volume began to normalize. Hourly price action shows consolidation forming just above the $1.88–$1.90 area, although no strong reversal signals have emerged yet.
What traders should knowThe $1.93 level now acts as the first major resistance. Any recovery attempt must reclaim this zone on strong volume to shift momentum back toward neutral. Failure to do so keeps downside risk in play.
On the downside, $1.88–$1.90 is the immediate area to watch. A sustained break below this base would expose deeper support levels, while successful defense could allow XRP to consolidate before the next directional move.
For now, volume behavior remains critical. Continued selling on rallies would confirm ongoing distribution, while fading volume near support would suggest the market is transitioning from breakdown to stabilization.
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