XRP gave back much of last week’s Rally on Wednesday, dropping through the $1.15 support level as sellers intensified pressure. The decline coincided with some of the session’s heaviest trading volume and marked another failed attempt to break above a descending trendline that has capped recovery efforts for months.
Market participants are balancing growing expectations for U.S. cryptocurrency legislation against technical pressures. Meanwhile, XRP remains confined within a year-long symmetrical triangle pattern, sandwiched between support near $1.10 and resistance around $1.25.
During the 24-hour period, XRP fell from $1.1873 to $1.1465, representing a 3.4% loss. Heavy selling pressure emerged around 15:00 UTC when volume surged to 134.2 million XRP—approximately 170% above average—breaking through support at $1.1550. Buyers briefly stepped in near $1.13, pushing the token back toward $1.15 by the close, though the rebound failed to reclaim the broken support level.
The critical development remains the loss of $1.15, which had served as support following last week’s breakout. The level now poses risk of becoming resistance, potentially complicating upside momentum going forward.
