XRP lost $1.40, and it didn’t happen quietly. The level had held for weeks, but once it gave way, price slipped quickly and hasn’t recovered it. That shift matters because when support breaks on strong volume, it usually turns into resistance, and that changes how traders position around it.
News Background
• Bitcoin dominance pushed toward 60%, signaling capital rotating away from altcoins and limiting demand for XRP.
• XRP continues to unwind after a long consolidation phase, with the recent move marking the first clean break below its range floor.
Price Action Summary
• XRP dropped from $1.40 to $1.38, breaking below a key support level that had held through the range.
• The move was driven by a clear spike in selling activity rather than gradual drift.
• Price is now holding just below $1.40, consolidating after the breakdown instead of bouncing back.
Technical Analysis
• The structure has shifted. $1.40 was support, now it acts as resistance unless reclaimed.
• Volume expanding into the move confirms real selling pressure, not a low-liquidity drop.
• The longer consolidation that kept price stable has now started to resolve lower.
• Short-term rebounds are shallow so far, which suggests buyers are not stepping in with strength yet.
What traders should watch
• $1.40 is the key level. A move back above it would signal the breakdown failed.
• $1.37 is the next support. Losing that opens the path toward $1.32-$1.28.
• As long as price stays below $1.40, rallies are likely to face selling pressure.
Source: https://www.coindesk.com/markets/2026/04/29/xrp-falls-to-usd1-38-after-breaking-below-usd1-40-on-rising-selling-pressure
