XRP continues to trade within a clear bearish structure, characterized by consistent lower highs and lower lows on its daily chart. The token is currently trading around $1.3840, having rebounded from a recent low of $1.12, which now serves as a critical structural support floor. This bounce has led to a 2.04% price increase over the last 24 hours, but the overall market momentum remains cautious.
The broader decline for XRP began after it failed to break through the cycle top resistance zone between $3.60 and $3.70. Analysts note that while momentum indicators show early signs of bullish strength, sellers still maintain control over major price zones. Derivatives and spot market data indicate a period of deleveraging, signaling that traders are positioning themselves cautiously amid the ongoing uncertainty.
On the hourly chart, XRP faced rejection at a local resistance level of $1.4082 and has begun to fall. If buying pressure does not return, the price could test the $1.12 support level again in the near term. From a longer-term perspective, the price is situated in the middle of a wide trading channel, bounded by support at $1.1371 and resistance at $1.8209.
The key level for a potential trend reversal is identified at $1.72. A sustained break above this level would be necessary for bulls to shift the prevailing market structure from bearish to bullish. Until then, with trading volume remaining low, the most likely scenario for the rest of the week and month is continued sideways consolidation within the $1.20 to $1.50 range.
