XRP Faces Critical Turning Point as Key Support Breaks After 400 Days

XRP is at a critical juncture with significant long-term support breached for the first time in over 400 days. The break below the 200-day moving average indicates increasing pressure on the cryptocurrency.

Key Points

XRP has stalled below the $2 level, consolidating between $1.85 and $1.88, suggesting potential for sharp movement.
Buyers have defended nearby supports, maintaining a bullish outlook if momentum improves.
The recent close below the 200-day simple moving average after 400 days signals a technical shift.
Potential downside targets include $1.45, $1.10, and $0.69 if a breakdown occurs.
Ripple’s $1 billion token unlock adds pressure to the market.

Market Dynamics

A former resistance level has turned into support, indicating buyers still defend the structure.
A double-top formation is present, but holding above the 0.786 Fibonacci level mitigates its impact.
XRP remains in consolidation within the 0.786 to 0.886 Fibonacci range, awaiting a clear market catalyst.

XRP Chart

This period of balance emphasizes the importance of upcoming sessions in determining XRP's near-term trajectory.