- XRP fell toward $1.30 after a failed breakout near $1.39.
- Over $300 million in long liquidations intensified selling pressure.
- Bears target $1.26 support as momentum indicators remain weak.
XRP has lost momentum at a critical moment. After attempting a move toward $1.40 earlier this week, sellers stepped in and quickly reversed the rally. The decline accelerated as liquidations spread across the futures market, wiping out hundreds of millions in bullish positions. Growing technical weakness, mixed sentiment, and uncertainty surrounding the XRP Ledger have now placed the $1.30 area under intense scrutiny as traders search for the next direction.
XRP Faces Heavy Selling Pressure After Failed Breakout
XRP traded near $1.33 on Thursday after failing to sustain gains above $1.39. That rejection triggered fresh selling and erased much of the week’s progress. The wider crypto market also weakened during the same period. Bitcoin slipped below $82,000, while Ethereum dropped near $2,400. Despite the pullback, institutional interest remains present. US-listed spot XRP ETFs recorded roughly $709,000 in inflows on Wednesday.
Total inflows have now reached $1.8 billion, while net assets stand near $1.6 billion. Another development added pressure to market sentiment. A planned XRP Ledger bug fix faced a delay after validator support fell below the required threshold. The amendment now appears likely to move into November. Although validator backing later recovered, approval remains necessary for a successful rollout.
Key Support Levels Now Come Into Focus
Market sentiment has weakened further in the derivatives market. The futures long-to-short ratio dropped to 0.71, among the lowest readings seen in recent weeks. Previous declines in this metric were followed by further downside movement for XRP. Analysts continue to watch the current trading range closely. Many traders consider the $1.31 to $1.30 region a major support zone.
A successful defense could encourage another recovery attempt. However, a breakdown may shift momentum even further toward sellers. The daily chart presents several obstacles for buyers. The 100-day EMA near $1.34 stands as immediate resistance. The 50-day and 200-day EMAs create another barrier between $1.37 and $1.38. Until XRP reclaims those levels, bullish confidence may remain limited.
Momentum indicators also reflect caution. RSI hovers near 43, while MACD remains slightly bearish. If buyers regain control, the next upside targets sit near $1.47, followed by $1.62 and $1.70. For now, traders remain focused on support. A break below $1.31 could expose $1.29 and then $1.26. Losing $1.26 may open the door to a deeper decline toward $1.10 or even $1.00. As long as XRP remains below key moving averages, sellers appear to hold the advantage.