The price of XRP has broken below a key technical support level, signaling a shift in market momentum to the bears. The cryptocurrency fell 1.17% to trade near $1.3388 after decisively breaking below the lower boundary of a symmetrical triangle pattern that had been forming on the charts since late February.
This technical breakdown was accompanied by a significant surge in trading volume, which jumped 71.81% to $3.16 billion, confirming strong selling participation. Open interest also rose 1.35% to $2.30 billion, indicating increased positioning in the derivatives market. The move places sellers firmly in control as the token struggles to regain momentum above key resistance levels, having faced multiple rejections near the $1.50–$1.55 zone.
On-chain data from Glassnode reveals growing pressure within the XRP market. The total supply of XRP held at a loss has increased significantly in recent months, indicating that a large portion of investors are currently underwater. This condition often creates overhead resistance as holders may sell during short-term recoveries to exit near their break-even point, potentially slowing any bullish recovery.
From a technical perspective, XRP continues to trade inside a descending channel, confirming the broader bearish market structure. The price is now consolidating around the $1.35 region, just above a crucial support area near $1.32. If this support fails to hold, analysts suggest the price could move toward the next major support near $1.10, with the psychological $1 level becoming a key downside target.
While the MACD indicator is attempting a bullish crossover—suggesting selling momentum may be slowing slightly—the Relative Strength Index (RSI) remains near the neutral zone, reflecting ongoing consolidation rather than a strong trend reversal. The overall technical structure still favors the bears unless XRP manages to reclaim key resistance levels above $1.50.
