XRP trades near the $1.00 level with the broader chart structure still favoring sellers. A break below $1.00 could expose the $0.91-$0.97 support zone, while a recovery through $1.02-$1.04 would be the first sign buyers are attempting to regain control.
XRP remains under pressure, with the broader structure still favoring the bears as the asset trades near the $1.00 area. The market has lost momentum after its previous decline, and the latest price action suggests a sustained recovery has yet to develop.
Daily chart keeps XRP below key resistance
On the daily timeframe, XRP remains inside a clearly defined descending structure and trades well below the major moving averages. This keeps the broader trend bearish despite weeks of consolidation.
The $1.02-$1.04 area now stands as an important resistance zone after XRP previously traded there before breaking lower. A recovery above this zone would be an initial sign that buyers are attempting to regain control, though the descending trendline would remain a larger obstacle.
On the downside, the $1.00 psychological level is becoming increasingly important, and a sustained move below it could expose the blue demand zone around $0.91-$0.97. This region represents the next major support visible on the chart. For now, the lack of a meaningful bullish reversal suggests the market remains in a corrective phase.
Four-hour chart shows a more immediate bearish picture
The 4-hour chart shows XRP forming lower highs beneath a descending trendline, while recent rebound attempts have repeatedly failed to produce a structural breakout.
XRP is currently hovering around $1.00 and has already moved below the $1.02-$1.03 support area shown on the chart. This former support could now act as resistance if the asset attempts to recover, and the descending trendline overhead further reinforces the bearish structure.
The current consolidation just below $1.00 suggests sellers have not completely lost control, but momentum is also becoming compressed. If the $1.00 area fails decisively, the next major downside reference is the $0.91-$0.97 support zone visible on the daily chart.
Conversely, reclaiming $1.02-$1.03 and breaking the descending trendline would weaken the bearish setup. A stronger recovery above the $1.06-$1.08 area would signal the current downtrend is losing momentum. Until then, the path of least resistance remains tilted to the downside.
Source: CryptoPotato
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