XRP gave back more of last week’s rally on Wednesday after sellers pushed the token to the $1.15 support level, a level that traders were eyeing after recently rising above $1.20.
The drop came on the heaviest volume of the session and was followed by another rejection below the falling trend line that has capped every recovery attempt for months.
news background
• XRP is caught between rising expectations for US crypto legislation and a market that continues to prioritize technical levels over narrative.
• Traders are also watching for a year-long symmetrical triangle, with price action compressed between support near $1.10 and resistance near $1.25.
price action summary
• XRP fell from $1.1873 to $1.1465 with a loss of 3.4% during the 24-hour session.
• The fastest selling occurred around 15:00 UTC when volume surged to 134.2 million XRP, nearly 170% above the average, breaking support at $1.1550.
• Buyers emerged near $1.13 and helped push XRP back near $1.15, although the rebound failed to recapture the broken support.
technical analysis
• The main development was a loss of $1.15. That level served as support after last week’s breakout and now risks turning into resistance.