The recent sell-off in the cryptocurrency market has also affected XRP, one of the largest digital assets by market capitalization. XRP lost more than 4% of its value in the last 24 hours, falling below the $1.13 support level, which is closely watched by investors.
The analysis revealed that after the aforementioned support level was broken, selling pressure increased significantly, and trading volumes rose considerably. With the increased selling pressure, the XRP price briefly dropped to $1.05 during the day. This movement heightened concerns among market participants about whether the downtrend would continue.
Technical indicators also point to a weak outlook for XRP. According to CoinDesk, XRP is currently trading within a downward price channel and is below both its 100-day and 200-day moving averages. In technical analysis, this is generally considered a signal that the downtrend is continuing.
Analysts say that for XRP to regain strength, it first needs to reclaim the $1.13 level. However, they state that if the price remains below this level, selling pressure may continue. The support zone between $1.10 and $1.12 is particularly critical for the short-term outlook.
According to experts, if this support level is also broken, XRP risks falling below the psychologically significant $1 level. In such a scenario, investors may become more cautious, and selling pressure could accelerate.
However, some market observers believe that buyers may re-enter the market and the price may find equilibrium as it approaches strong support zones. Nevertheless, the current technical structure suggests that XRP is still under pressure in the short term.
Market experts say investors should closely monitor the $1.10–$1.12 support zone and the $1.13 resistance level in the coming days. Movements at these levels are expected to be decisive for XRP’s short-term direction.
This is not investment advice.
