XRP breaks February floor, finds descending channel support near $1.10
XRP breaks its February floor, but lands on an older descending channel support from August 2025. The breakdown is real; the channel still gives bulls a line to defend.
Price slipped out of the $1.25–$1.55 range that held for months, confirming a clean loss of support on the daily chart per NewsBTC and charting by Guy on the Earth. The early-June break sent price to $1.10 on a daily wick, with on-chain metrics flipping bearish and the profit/loss ratio falling to its lowest since 2024 NewsBTC, NewsBTC.
Where the drop paused matters. Buyers stepped in along the lower bound of a broad descending channel active since August 2025, keeping that larger structure intact for now Bitcoinist, NewsBTC.
Key levels and signals:
- Hold above $1.10 to validate the channel floor; XRP trades near $1.12 with an intraday high at $1.17 as reported by NewsBTC.
- First resistance sits near $1.27, the prior range’s lower bound likely to flip into supply on retest analyst chart.
- Analyst Guy on the Earth flags a possible fast squeeze toward $1.96 if momentum turns, pointing to a “long-awaited” wave higher after months of downside NewsBTC.
For context, XRP spent February to May in a tight band before this week’s breakdown, and on-chain capitulation metrics corroborate the shift in trend NewsBTC.
