XRP Breaks Key Technical Support, Price Faces Major Pressure
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Technical Support Break: XRP has broken a key technical support for the first time in over 400 days, with prices trapped between $1.85 and $1.88, indicating market indecision that could lead to increased short-term volatility.
- Long-term Trend Shift: The price has fallen below the 200-day simple moving average, marking a significant change in long-term trend, which investors need to monitor closely as it represents a major technical turning point.
- Increased Supply Pressure: Ripple's unlocking of 1 billion tokens, although planned, adds supply pressure to an already fragile market setup, potentially leading to further price declines if demand does not keep pace.
- Support Level Analysis: Analysts suggest that if selling pressure accelerates, XRP could drop to support levels of $1.45, $1.10, or even $0.69, indicating that buyers have not yet established strong defenses within the current price range.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
