Key Takeaways
- XRP currently hovers between $1.33–$1.34, showing a 0.32% decline over the last 24 hours
- The $1.35 threshold represents a vital support area — losing it could drive prices toward $1.33 or beyond
- Technical charts reveal a descending channel pattern on the hourly timeframe with resistance near $1.3380
- Should buyers defend the $1.35 mark, potential upside targets include $1.37, $1.39, and $1.40
- Market observer Josiah Gallegos identifies the coming week as critical for XRP’s direction
XRP finds itself at a pivotal juncture in the market. Currently changing hands around $1.33–$1.34, the digital asset maintains an $82.64 billion market capitalization alongside $1.41 billion in 24-hour trading volume. The token has experienced a modest 0.32% pullback in the last day, while technical indicators suggest mounting downward pressure.
The $1.35 price point has emerged as the focal area for market participants monitoring XRP. Technical analyst Ali Martinez highlighted that XRP is currently testing the bottom boundary of an ascending channel formation, which traditionally serves as a demand zone. However, a decisive breach of this level could trigger a cascade toward $1.33, with $1.31 representing the subsequent target.
Examining the hourly timeframe reveals a bearish channel formation with overhead resistance positioned at $1.3380. The price has already slipped beneath the 38.2% Fibonacci retracement measured from the swing low of $1.2658 to the recent peak of $1.3642. This technical breach serves as an early warning signal for potential further weakness.
Despite the pressures, XRP maintains its position above $1.3150 and the 100-hour Simple Moving Average. This zone becomes increasingly important should the $1.35 level fail to hold against selling momentum.
Digital asset analyst Josiah Gallegos shared his perspective on X, characterizing the present situation as pivotal for XRP’s near-term trajectory. According to Gallegos, a convincing break above the descending trendline could ignite bullish momentum, whereas rejection at this level threatens additional downside movement. He emphasized the importance of monitoring daily closing prices throughout the upcoming week, suggesting that a volume-backed breakout might provide the trigger the market has been anticipating.
$XRP Decision Time is Approaching FAST.
These next few days are absolutely critical.
A strong break above the trendline could spark a powerful rally, while a rejection risks another leg down.
The consolidation spring is coiled tight — and it’s about to snap. This is one of… pic.twitter.com/kXCGQftJ8p
— Josiah Gallegos (@josiahmarqus) May 31, 2026
Resistance Zones Above Current Levels
Should XRP successfully maintain the $1.35 foundation with renewed buying interest, initial resistance barriers emerge at $1.3380 and $1.3420. Breaking through these obstacles could propel the price toward $1.350, followed by $1.3580, and potentially a retest of the $1.3642 local high.
Clearing the $1.350 level would constitute a constructive technical development. Beyond that threshold, traders should monitor $1.3650 and $1.3740 as the next significant obstacles.
Downside Risk Scenarios
In the event that XRP cannot sustain the $1.3150 level, technical analysis identifies $1.3120 and $1.3050 as immediate support zones. Further deterioration would bring $1.2920 and $1.2880 into focus as potential catch points.
The compressed trading range between $1.35 and $1.40 implies that relatively modest price movements could carry outsized significance. During periods characterized by limited fundamental catalysts such as the present environment, technical price levels typically exert greater influence on short-term action.
XRP commands roughly 3.32% of the overall cryptocurrency market capitalization. The current daily trading volume of $1.41 billion indicates measured participation as market participants await a definitive directional signal.
The post XRP (XRP) Hovers Near Critical Support as Bears Apply Pressure appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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