• Volume during that move reached 688,000 XRP, about 120% above the session average, before momentum faded.
• Earlier selling took XRP to a session low near $1.0742 after volume rose to 80.2 million, about 83% above the 24-hour average.
Technical Analysis
• The key development is that XRP continues to defend the $1.00-$1.05 support zone, which analysts say aligns with longer-term moving average and trendline support.
• The near-term chart remains weak despite the small bounce. Lower highs at $1.1133, $1.0993 and $1.0932 show sellers are still capping recovery attempts.
• XRP needs to hold above $1.088-$1.091 to build a cleaner move toward $1.093-$1.095.
• The larger setup remains a compression trade rather than a breakout. Monthly wedge and channel patterns may point to higher targets, but confirmation requires a sustained move above nearer resistance first.
• Relative weakness against bitcoin remains a risk, with the XRPBTC pair testing support near 1,700 sats.
What traders should watch
• $1.00-$1.05 remains the key support zone. Losing it would put $0.90 and then $0.80 back in focus.
• $1.088-$1.091 is the immediate resistance area after capping the latest breakout attempt.
• $1.20-$1.25 is the next major zone, where candle resistance and the 100-day moving average sit.
• A move above $1.40 would be the first stronger sign that XRP is breaking out of its broader compression.
Source: Original Article
