XRP Faces Bearish Pressure as Daily Structure Breaks Below Key Support Market analyst Ether Guru notes that XRP is under strong bearish pressure, having broken key daily support and now forming lower highs and lows, a clear sign of downward momentum. Ether Guru warns that XRP faces strong resistance at $1.38, keeping downside risk toward $1.05–$1.15 active. Notably, selling pressure may persist unless XRP decisively breaks above $1.38. This risk is amplified by the fact that a $75B market sell-off was sparked by strikes involving the United States and Israel against Iran. Well, XRP is trading at $1.32 per CoinCodex data, down from recent highs, as key higher-timeframe support breaks. These critical levels often guide trader sentiment, and their failure raises the likelihood of further declines, consistent with the daily chart’s pattern of lower highs and lower lows. Bears Dominate as $1.38 Resistance Holds Key to Reversal Persistent selling pressure reinforces the bearish trend, suggesting traders favor selling over buying. Technical analysts may see this as a continuation pattern, with further downside likely until key resistance is reclaimed. Consequently, South Korea drives roughly 33% of global XRP trading, underscoring its dominant role in market activity. Despite bearish pressure, $1.38 is a key level for XRP. A daily close above this resistance could ease short-term selling and signal potential upside toward previous highs. Until then, caution is advised, as the daily structure favors sellers because XRP remains under bearish control, with $1.05–$1.15 as the near-term downside target. Conclusion XRP’s daily chart shows clear bearish dominance, marked by lower highs, lower lows, and a break of key support. Unless $1.38 is reclaimed, the $1.05–$1.15 range remains the likely downside. Therefore, the XRP market currently dictates that caution should not be thrown to the wind because a decisive break above $1.38 is need to signal a potential bullish reversal.
