XRP is trading around $1.33, with daily volume hitting $1.41 billion as market participants closely watch the critical support at $1.35. The asset ranks fifth among top crypto assets by daily trading volume, accounting for 3.32% of the total market.
$1.35 Support and Technical Indicators
Technical analyst Ali Martinez noted that XRP is currently testing the lower boundary of its ascending channel. This zone is typically seen as a strong buying area, but a clear break could first send the price to $1.33, and potentially to $1.31. Martinez said tracking XRP’s lower band in the ascending channel is critical, with short-term targets of $1.37 and $1.40 taking shape.
On the hourly chart, a descending channel has formed with upper resistance at $1.3380. The price has now dipped below the 38.2% Fibonacci retracement level, which spans from $1.2658 to $1.3642. This technical breakdown signals a risk of further weakness. Still, the price remains above $1.3150 and the 100-hour simple moving average. Should the $1.35 level be broken downward, that area could become the next key support.
Analyst Josiah Gallegos: Break Above Downtrend Line Needed for Bullish Momentum
Digital asset analyst Josiah Gallegos stated on X that XRP is at a pivotal point in its short-term trajectory. He explained that a break above the prevailing downtrend line could trigger strong bullish momentum, but if this barrier holds, selling pressure might escalate. Gallegos emphasized monitoring daily closes and high-volume breakouts in the coming days.
Short-term Resistance and Support Levels
Technically, XRP holding above $1.35 is interpreted as positive for buyers. The first notable resistance lies at $1.3380 and $1.3420. If those are broken, the price could approach recent peaks at $1.3500, $1.3580, and $1.3642. Sustained movement above $1.3500 is likely to reinforce bullish expectations. Further resistance may appear at $1.3650 and $1.3740.
Conversely, if the price weakens, it may slip back toward $1.3150. Should that support give way, technical analysis points to possible retreats to the $1.3120–$1.3050 range. If selling persists, new support might form at $1.2920 and $1.2880.
Market Structure and Volume
The narrow trading range between $1.35 and $1.40 is creating a short-term standstill for traders. In the absence of major news, technical levels are taking on greater importance. The 24-hour volume of $1.41 billion suggests participants are awaiting a clearer direction.