- XRP fell back under $1.40 after another failed breakout attempt near resistance
- Heavy profit-taking pushed the token lower during a high-volume selloff
- Traders say XRP’s tightening triangle pattern could soon trigger a major move
XRP pulled back sharply after failing once again to break above key resistance levels, with traders aggressively taking profits into strength and pushing the token back below $1.40. The rejection keeps XRP trapped inside a broader consolidation pattern that has compressed price action for months.
The token dropped from roughly $1.4138 to $1.3865 during the latest 24-hour trading session. Most of the selling pressure arrived during a late May 17 session when heavy volume drove XRP from the $1.42 area down toward intraday lows near $1.378.
XRP’s Triangle Pattern Keeps Tightening
Technical analysts continue focusing on XRP’s larger symmetrical triangle structure, which has been steadily narrowing volatility over recent months. Traders often view these formations as setups for larger directional moves once support or resistance finally breaks decisively.
The latest rejection near $1.42 reinforced that sellers still control the upper end of the range for now. At the same time, buyers once again defended support around the $1.38 level, preventing a more aggressive breakdown.
Volume spiked heavily during the decline but cooled quickly afterward, suggesting the move was driven more by profit-taking than full-scale panic selling across the market.
Key Levels Are Starting to Matter More
According to traders, the $1.38 area has now become XRP’s most important short-term support level. A clean breakdown below that zone could increase the likelihood of a deeper retracement toward the $1.30 range.
On the upside, XRP would likely need to reclaim the $1.39 to $1.40 zone quickly in order to stabilize momentum and attempt another push higher.
ETF Optimism and Regulation Still Influence Sentiment
Part of the recent optimism surrounding XRP came from growing expectations around U.S. crypto legislation and increasing attention toward potential XRP-related ETF products. Earlier inflows tied to XRP investment products helped fuel bullish sentiment before the latest rejection.
For now though, XRP remains locked inside a tightening range while traders wait for a stronger breakout signal. As volatility continues compressing, the probability of a larger directional move appears to be increasing with each failed breakout attempt.
