XRP gave back more of last week’s rally on Wednesday after sellers pushed the token through $1.15 support, a level traders had seen since the last move above $1.20.
The drop came on some of the heaviest volume of the session and followed another rejection below the descending trend line that has capped every recovery attempt for months.
News background
• XRP remains caught between growing expectations of US crypto legislation and a market that continues to prioritize technical levels over narrative.
• Traders are also watching the year-long symmetrical triangle that has compressed price action between support near $1.10 and resistance around $1.25.
Summary of price action
• XRP fell from $1.1873 to $1.1465 during the 24-hour session, losing 3.4%.
• The sharpest sales came around 15:00 UTC when volume increased to 134.2 million XRP, approx. 170% above the average, which broke the support at $1.1550.
• Buyers emerged near $1.13 and helped lift XRP back towards $1.15 at the close, although the rally failed to regain broken support.
Technical Analysis
• The most important development was the loss of $1.15. That level had acted as support after last week’s breakout and is now at risk of becoming resistance.
