XRP has failed to break through its crucial resistance at $1.65 for nearly four months, as sellers continuously block any upward attempts near this level. Market analyst CasiTrades notes that
XRP has failed to break through its crucial resistance at $1.65 for nearly four months, as sellers continuously block any upward attempts near this level. Market analyst CasiTrades notes that every approach toward $1.65 sparks renewed selling, forcing buyers to pull back and intensifying downward pressure on the cryptocurrency.
The cryptocurrency’s inability to decisively surpass $1.65 is emerging as a sign of waning upward momentum in the market. According to CasiTrades, such a prolonged period spent under a major resistance level weakens the possibility of a bullish breakout. Instead, commentary increasingly points to a renewed move to the downside.
On the lower end, two significant and broad support zones stand out: $1.10 and $0.87. Both areas have previously attracted strong interest from buyers, and many in the market believe substantial buy orders remain parked at these levels. If XRP continues to lose strength, analysts suggest it could fall back toward these supports.
The $1.65 barrier still holds, and this level is playing a key role in determining the direction of XRP’s price. If a strong breakout and sustained upward move are seen, a medium-term trend reversal could occur in the market.
Analysts are also highlighting the risk of a “liquidity sweep” in XRP’s price action. This scenario typically entails leveraged positions being quickly liquidated, essentially resetting market dynamics before a major price swing.
Glossary: A liquidity sweep refers to a sudden move where the market price clears out highly leveraged positions near important support or resistance, flushing out weak hands. This pattern usually shapes up right before volatility increases, potentially paving the way for a trend shift.
According to many experts, a pullback toward support may signal not a simple nosedive, but rather a strategic market correction allowing positions to rebalance.
CoinCodex data indicates XRP is trading at $1.33, posting a 2.83% loss over the last week. Within this range, XRP remains squeezed between the major $1.65 resistance above and layered support levels below. For now, neither a solid breakout nor a decisive reversal is in sight.
The main inflection point for the market stands at $1.65. Should this resistance be breached and the price holds above it, the current correction could come to an end. Otherwise, the risk persists that XRP may continue to slide toward lower support zones.
LevelPriceMeaningResistance1.65 $Critical trigger for upward breakout and potential trend reversalSupport 11.10 $Strong demand zone, historical buyer interestSupport 20.87 $Secondary accumulation area, rich in liquidityOn-chain data reveals that transaction volume among major wallets has plunged more than 50%. This indicates significant market players are largely watching from the sidelines, avoiding new positions. Meanwhile, retail investors are behaving more cautiously following the recent drop, yet some see the price pullback as a medium- or long-term buying opportunity.
Overall, XRP has been oscillating within a narrow range for some time. Historically, such consolidations eventually lead to rapid volatility spikes. However, which direction the next major move will take remains uncertain.
The post XRP stuck below 1.65 dollars for four months appeared first on COINTURK NEWS.
