XRP lost its $1.294 daily support and sits near $1.28, weaker than the wider crypto market. Traders are watching the $1.28 to $1.25 zone, with the October low as the next level if buyers fail to defend it.
XRP fell below its $1.294 daily support and traded near $1.28 on Saturday. CoinMarketCap showed the token down 2.83% over 24 hours, a bigger drop than the wider crypto market.
Risk-off mood weighs on the token
The source ties the move to a risk-off mood, with investors pulling money out of riskier assets. CoinMarketCap points to large Bitcoin ETF outflows and weak tech stocks as the main triggers.
XRP's daily close on Friday came in under $1.29391. That level had worked as a support level, so losing it shifted the mood for short-term traders.
Holding above the $1.26 to $1.30 support zone could allow a bounce toward $1.37 to $1.40. A break below it risks a test of the October low near $1.256.
Daily chart shows a downtrend
On the daily chart, XRP trades at $1.2827, down 0.95%, close to its session low of $1.2804. October has brought lower highs and lower lows, which is the pattern of a downtrend.
XRP is also below the Ichimoku cloud and the $1.4090 baseline. The cloud spans roughly $1.3683 to $1.4524, which marks the hurdle for any bigger recovery.
Momentum is soft. The Relative Strength Index reads 37.49, below its 39.54 average and the neutral 50 mark, which shows weakness but not an oversold reading.
Analyst sees a hopeful setup above $1.24
Analyst EGRAG Crypto calls $1.24 to $1.25 the structural line in the sand and points to double-bottom wicks that suggest buyers defended the area. He favors trading the range toward $1.45 to $1.47 while support holds.
He also warns that a sustained daily break below $1.24 could mean months of consolidation. For a stronger recovery, XRP needs to reclaim $1.3277 while RSI improves and volume builds.
Source: Live Bitcoin News
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