"The XRP price tested $1.35 three times between March 24 and March 26, and each bounce came on lower volume than the one before—a clear sign that the demand holding the level together was thinning out."
"Once it gave way, the technicals changed. The MACD is below its signal line with the histogram expanding to the downside, the RSI sits at 41, and XRP ETF products posted zero flows on March 27."
XRP tested the $1.35 support level multiple times in March, but selling pressure from Bitcoin's drop and a large options expiry led to a break below this level. The price is now around $1.31-$1.34, with the next support at $1.28, where Fibonacci retracement and cost basis converge. The failure to hold $1.35 indicates thinning demand, and technical indicators show a bearish market. The break of the trendline that supported recovery from $1.12 further complicates the outlook for XRP's price action.
Read at 24/7 Wall St.
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