XRP has been declining since a July 2025 peak near $3.65 and is trading around $1.37, with recent gains erased after the CLARITY Act cleared a Senate committee on May 14. Price action has been trapped between roughly $1.30 and $1.50, with the 50-day moving average near $1.46 acting as resistance. The key support level is $1.28, which has repeatedly held since a late-February low near $1.11 and aligns with the 23.6% Fibonacci retracement. Support weakens with repeated tests, so a breakdown could lead to the next support near $1.18, aided by momentum selling and automated selling.
"XRP has been stuck in the same trap for most of 2026, bouncing between $1.30 and $1.50 and getting knocked back every time it tries to push through the top. The 50-day moving average now runs above the price at around $1.46, so the line that once propped XRP up is now capping it, showing the bears have the upper hand."
"The most significant floor under all of this is $1.28. XRP bottomed at $1.11 in late February, when the Iran war piled onto an already-falling market, and buyers have stepped in around $1.28 to defend it on every dip since. It also lines up with the 23.6% Fibonacci retracement, a level traders watch closely in a downtrend."
"XRP trades about 7% above the $1.28 support right now. The trouble is that support gets weaker the more often it's tested. Each test chips away at it, and the next one could be the one that finally gives way."
"If the $1.28 floor breaks, will likely step down through a series of supports, and the chart already shows where those steps are. The first is $1.18. XRP has been carving out a descending triangle since late 2024, with each high coming in lower while the price grinds along a falling path. If $1.28 gives way, $1.18 is the next target, and it's about 14% below where XRP trades now."
Read at 24/7 Wall St.
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