XRP traded at $1.39993 at 10:17 a.m. on March 22, staying close to the lower end of its recent range after a sharp reversal from this week’s push toward $1.60. The token was holding just above the session low near $1.385, while its 24-hour loss reached 2.95%.
In the short term, price structure has weakened after breaking down from the $1.44 area into a tighter band around $1.39 to $1.41. XRP is still tracking near the lower Bollinger Band and remains below both the 14-period and 21-period moving averages, a sign that upside attempts are still being capped. Selling volume expanded on the initial drop, then cooled as price settled near support. That points to a market stabilizing, but without a clear shift back to bullish control.
Commodity status removes one barrier, but flows remain restrained
On the regulatory side, XRP is trading through a major change. On March 17, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission classified XRP as a digital commodity. The move removes a long-running area of regulatory uncertainty and places the token in a framework closer to commodities such as gold or oil, potentially clearing access for exchanges, banks, and hedge funds.
Even so, the market response has been restrained. The report said President Donald Trump’s 48-hour ultimatum linked to developments in the Strait of Hormuz pushed global markets into a broader risk-off move, sending capital toward traditional safe-haven assets. That backdrop has kept institutional positioning measured, leaving XRP stuck in a narrow range despite its stronger legal footing.
Technical picture stays soft as traders watch $1.39 support
Momentum indicators still show a weak market trying to hold steady. The Relative Strength Index stands near 35.90, just above oversold territory. The MACD remains negative, with the MACD line around -0.01081, the signal line near -0.01033, and a slightly negative histogram. Bearish momentum has eased from the earlier drop, but there is still little evidence of a clean reversal.
Moving averages are still overhead resistance. The 14-period simple moving average is near $1.40423, while the 21-period simple moving average sits around $1.41302. Bollinger Bands place the lower band near $1.37982, the midline at $1.41182, and the upper band around $1.44382. As long as XRP stays pinned near the lower band, pressure remains concentrated on the downside.
The immediate focus is the $1.39 to $1.40 support zone. If XRP holds that floor and reclaims $1.41, traders may start looking at $1.50 as the next resistance level, followed by the $1.60 area seen earlier in the week. A break below current support would leave the token exposed to a move toward $1.30.