XRP Stays Near $1.41 as Traders Watch for Breakout

XRP, the native token of Ripple, is currently trading near $1.41, which happens to be a critical price level for the cryptocurrency, with traders watching out for a possible breakout.

The token is up 1.5% from the previous day. However, the trading volume over the same period has dropped by 6.4% to $2.18 billion, while the market valuation is up 1%, reaching over $86.97 billion.

Buyers and sellers in a fight for control

Based on current price action, the token has been ranging from $1.46 and $1.36 over the past few hours on crypto exchanges, with buyers and sellers both trying, but failing to take control of the market. The price now consolidates sideways, staying in a small price zone before any big move. 

Looking closer at the one-hour timeframe, there’s a support forming near $1.38, where the buyers keep stepping in to stop the price from falling further. 

On the other side, a resistance level is also holding around $1.42, pushing the price back down. Attempts to break out from the range have failed multiple times.

XRP whales buy more, but no reaction in price

Meanwhile, on-chain data shows that large holders accumulated roughly 40 million XRP over the past week. The purchases took place during this quiet phase, indicating that some investors are adding to their positions while the market remains uncertain.

Despite this, the sentiment remains mixed. XRP has mostly been following the general direction of the crypto market, with no major news directly pushing its price. Demand through investment products has also slowed down. In March, XRP exchange-traded funds recorded about $30.12 million in net outflows, according to data from SosoValue.

What’s next for XRP

The recent pullback does not signal a weakness but a pause after earlier gains. The token had previously climbed toward $1.46 before easing back into its current range. However, some analysts are cautious about the near-term outlook. 

In a recent post on X, crypto analyst Casi said, “After over a month of rejection at resistance, it’s far more likely XRP needs lower support ($1.09 / $0.87) before any real trend shift happens.” The analyst added that the current structure could still lead to further downside before any significant recovery. 

https://twitter.com/CasiTrades/status/2036531404457312367?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener

For now, all eyes are on a clear breakout point from the current range. A strong candle close above the $1.42 zone could open a path that could push the price toward $1.45 to $1.50. If the momentum is strong, it could surge to a higher target of $1.55 or even $1.60, which is another resistance level. 

On the downside, if the price falls below $1.38, it could drop further towards $1.32 or over $1.30 if the sell pressure increases.

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