XRP breaks four-month support as RSI turns oversold; $1.10 next
XRP has broken below its key four-month support zone ($1.26–$1.28), falling more than 6% in 24 hours and trading around $1.16–$1.18. The move ends a prolonged sideways period and shifts traders’ focus to bearish technical signals.
Analysts cite $1.10 as the first downside target, matching a February wick low. Technical indicators reinforce the weakness: XRP is trading under key moving averages (10-day EMA near $1.27, 50-day MA near $1.36, and 200-day MA around $1.60). Recovery would likely require XRP to reclaim $1.30 with strong volume.
Momentum is also pressured. The 14-period RSI is near 24, below the 30 oversold threshold, while the Commodity Channel Index remains deeply negative. Volume stays elevated above $3 billion, suggesting active participation despite selling.
If $1.10 fails, multiple downside areas are highlighted. One analyst expects a further accumulation window at $0.85–$0.65 if the prior range is lost. Another projects a potential lower zone around $0.75–$0.95, with an extreme scenario down to about $0.63 based on broader selloff risk. Fibonacci clustering points to support near $0.87–$0.92, and pivot levels note $1.097 as near-term support.
For traders, this is a support-break event with clear levels to watch for both trend continuation and potential oversold bounces.
Bearish
The article describes a classic bearish “support break” setup for XRP. XRP losing the $1.26–$1.28 four-month floor suggests sellers regained control after a sideways consolidation. This is typically bearish because prior support often turns into resistance, increasing the probability of a continuation move toward the next technical target ($1.10, then potentially lower bands).
Key bearish confirmations are present: price trading below multiple moving averages (10-day, 50-day, and 200-day), RSI around 24 indicating oversold conditions, and negative momentum (CCI). While oversold can sometimes trigger short-term bounces, the lack of a confirmed reversal (no reclaim of $1.30 with volume) lowers the odds that this is an immediate trend bottom.
In similar past market episodes, oversold RSI after a support breakdown often produces choppy, volatile rebounds rather than a clean bottoming pattern. Therefore, traders may expect short-term volatility (possible relief rallies) but a higher risk of further downside if $1.10 fails. Over the longer term, the next support clusters ($0.87–$0.92, then $0.85–$0.65 / $0.75–$0.95) will likely define whether this becomes a deeper correction or a new accumulation phase.