XRP drops 4% below $1.30 as heavy selling breaks key support zone
XRP fell 4% below $1.30 on heavy volume, breaking a support level defended for months, with falling open interest and a symmetrical triangle pattern pointing to further downside risk.
XRP dropped 4% to trade below $1.30 on Thursday, breaking a support level that traders had defended for months. The move came on elevated volume, with sellers quickly pushing price lower after the key zone gave way.
The breakdown occurred as XRP had been weakening beneath resistance near $1.35. Once support at $1.30 was breached, selling accelerated before dip buyers stepped in near session lows. Derivatives data showed open interest declining during the session, indicating weaker conviction among futures traders. On-chain metrics revealed that XRP continued to flow out of exchanges, a pattern often associated with accumulation but insufficient to stem the selling pressure. For crypto traders, the break of a long-held support zone signals a shift in market structure. The move reinforces the importance of monitoring key levels on NowPrice's crypto page for real-time price action and volume confirmation.
Looking ahead, analysts are watching a symmetrical triangle pattern that has compressed XRP's price action since early 2025, with the market nearing the apex. A sustained move below $1.30 could open the door to the next support near $1.20, while a recovery above $1.35 would negate the bearish signal. Traders should also monitor Bitcoin dominance and broader risk sentiment for clues on altcoin direction.