$XRP on Wednesday after sellers pushed the token past support at $1.15, a level traders had been watching since the recent move above $1.20.
The decline occurred on some of the session’s heaviest volumes and followed another rejection below the descending trendline that capped every recovery attempt for months.
News context
• $XRP remains stuck between rising expectations for US crypto legislation and a market that continues to prioritize technical levels over narrative.
• Traders are also watching the one-year symmetrical triangle that has compressed price action between support near $1.10 and resistance around $1.25.
Price Action Summary
• $XRP fell from $1.1873 to $1.1465 during the 24-hour session, losing 3.4%.
• The biggest sales occurred around 15:00 UTC, when volume jumped to 134.2 million. $XRParound 170% above average, breaking support at $1.1550.
• Buyers emerged near $1.13 and helped lift $XRP back towards $1.15 at the close, although the rebound failed to reclaim broken support.
Technical analysis
• The key development was the loss of $1.15. This level served as support after last week’s breakout and now risks turning into resistance.
