Overview
- XRP, which slipped below $1.40 Wednesday, is hovering near $1.38–$1.39 after a roughly 9% retreat from the mid‑April high around $1.50.
- The daily chart shows a tightening triangle formed by converging trend lines, and a close above $1.39–$1.40 points to $1.50–$1.61, while losing $1.37 would expose $1.32–$1.28.
- On-chain data indicates more than 1.1 billion XRP were bought above $1.40, creating a large group of holders likely to sell at break-even and reinforcing that level as resistance.
- Analysts link the recent selloff to money rotating toward Bitcoin as its market share rises and to caution ahead of the Federal Reserve meeting, which has thinned buying across altcoins.
- Fundamental signals look more supportive as the XRP Ledger hosts about $418 million in tokenized U.S. Treasuries and spot ETFs took in nearly $83 million in April, with one study showing the Sharpe Ratio improving to roughly 0.065.