XRP is sliding toward $1.16 after sellers rejected its rebound and pushed the price through a key support zone. The next major demand area sits at $1.09–$1.14, and a sustained break below it would expose the $0.99–$1.03 zone.
XRP fell toward $1.16 after losing a key support zone, ending a rebound with another sharp selloff. Sellers retain control on both the daily and four-hour timeframes.
Daily chart shows a rejected recovery
The recovery into the $1.30–$1.34 supply zone was aggressively rejected, which triggered a breakdown beneath the $1.24–$1.28 support area. Several consecutive bearish candles have since carried the price toward $1.16, with little sustained buying response.
The next significant demand zone sits around $1.09–$1.14, corresponding to the base of August's strong advance. This area could attract buyers and produce a relief bounce, but a reversal would require stronger follow-through than the recent candles have shown.
However, a sustained breakdown below $1.09 would expose the broader $0.99–$1.03 support zone around the August lows.
Four-hour chart shows a failed channel breakout
On the four-hour chart, Ripple briefly advanced into the $1.30–$1.34 supply zone above the descending channel's upper boundary. It then reversed sharply, fell back inside the channel and broke through the consolidation base near $1.25.
Price is now consolidating narrowly around $1.16, but the pause has yet to produce a meaningful bullish structure shift. The nearby $1.15 low is the immediate downside reference, and the channel's lower boundary currently passes through approximately $1.12.
What a recovery would need
For a recovery to gain traction, Ripple first needs to overcome the recent lower highs around $1.18–$1.20. Sustained acceptance above that region could support a rebound toward $1.24–$1.28, where former support overlaps with the channel's upper boundary.
Until then, the limited response near the lows keeps another move toward the lower demand zone in focus.
Source: CryptoPotato
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