"XRP lost $1.40 because the broader market sentiment flipped bearish, with Bitcoin dropping to $76,000. Over the past 30 days, BTC is up 17% while XRP has barely gained 5%, making XRP weaker during the selloff."
"The first zone to watch is the $1.36-$1.38 area, where the 50-day EMA is at $1.38. If XRP can hold this zone and bounce, the $1.40 break could end up being a shakeout rather than a breakdown."
"If $1.28 breaks, things could get pretty ugly. Below $1.28, there's very little accumulated holder support until $1.11, meaning XRP could drop steeply once this level fails."
XRP has struggled to stay above $1.45, recently falling below $1.40 due to bearish market sentiment. Bitcoin's drop to $76,000 contributed to XRP's weakness, as it gained only 5% in the last 30 days compared to Bitcoin's 17%. More traders are shorting XRP, indicating expectations of further declines. Key support levels to watch are $1.36-$1.38, with critical support at $1.28. If $1.28 fails, XRP could drop significantly, with little support until $1.11 and a psychological level at $1.00.
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