XRP Reclaims $1.4 Support; Sellers Still Dominate — $1.6 Resistance Ahead
XRP recovered above the key $1.4 support after a sharp drop last Thursday, setting up a possible retest of resistance near $1.6 if buyers hold this level. Weekly volume data show sellers have dominated since late December and accelerated selling resumed in early February, suggesting continued distribution even as the price bounces. The daily RSI plunged to 17 during the crash (deeply oversold) and has since rebounded above 30; however, with RSI still below 50 the technical bias remains bearish. Key levels for traders: support at $1.4 and $1.0; resistance at $1.6. Watch volume and RSI — sustained buying volume above $1.4 could trigger a short-term recovery, while failure at $1.6 would likely resume the downtrend.
Bearish
The article highlights continued seller dominance on the weekly chart and accelerating selling volume in early February, which are strong bearish signals. Although XRP bounced above $1.4 and the daily RSI recovered from extreme oversold levels, RSI remains below 50 — indicating the broader technical bias is still negative. For traders, this suggests a higher probability of continued downside unless buying volume strengthens. Historically, similar patterns (accelerating volume during declines and RSI recovery from extreme oversold) often precede either consolidation or a short-covering bounce rather than a sustained trend reversal. Short-term traders can exploit a corrective rally toward $1.6, but risk management is essential: failure at $1.6 or a breakdown below $1.4 would likely lead to renewed selling and further declines toward $1.0. Long-term bulls should wait for a shift in volume structure (buyers absorbing selling) and RSI crossing and holding above 50 to confirm trend change.