XRP is currently trading around the $1.35 mark, a crucial support level that traders are closely monitoring after a recent surge in selling volume. Following a brief drop, buyers have stepped in to stabilize the price, indicating a potential rebound.
The cryptocurrency has been experiencing a broader corrective phase since late February, primarily influenced by technical factors rather than new market catalysts. Institutional activity has shown mixed results, with recent outflows from XRP-linked investment products and a slight decline in derivatives trading, suggesting a subdued speculative interest.
In the last 24 hours, XRP’s price fluctuated between $1.3666 and $1.3554, demonstrating a relatively narrow trading range of 1.9%. A notable spike in trading volume briefly pushed the price down to $1.3473, but buyers quickly intervened, pushing it back toward the $1.35–$1.36 range.
Technical analysis reveals that XRP’s recent breakdown to $1.347 confirmed selling pressure below the $1.36 threshold, establishing this area as a short-term resistance zone. Despite the downturn, buyers defended the $1.35 support, leading to a modest recovery and forming a series of higher lows on shorter timeframes, indicating ongoing dip demand.
Market participants are now focused on whether XRP can maintain its position above $1.35. If this support holds, there may be a consolidation phase before another attempt to reach resistance levels around $1.36–$1.37. Conversely, a decisive drop below $1.35 could shift attention to deeper support levels near $1.30–$1.32, suggesting that the corrective trend might continue.
XRP is testing a critical support level at $1.35 following a recent breakdown and increased selling volume. Traders are watching for signs of stabilization or further declines as market activity remains mixed.