XRP Slides Below $1.20 After Rejecting $1.60 Resistance Multiple Times
XRP fell 4% below $1.20 after encountering repeated resistance near $1.60, according to market data from CoinDesk and CryptoPotato. Selling pressure pushed the token lower, though support held above $1.17 as Bitcoin also declined below $84,000.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
Price Action and Resistance Levels
XRP slipped 4% to trade below $1.20 after a rally stalled near the $1.60 level, according to CoinDesk. Heavy selling pressure drove the token back through a closely watched support boundary, though buyers defended the $1.17 floor to prevent a sharper decline. CryptoPotato reported the $1.60 resistance had been rejected multiple times, suggesting sustained selling at that price point.
Broader Market Weakness
XRP's decline occurred within a wider market downturn. Bitcoin slipped below $84,000, according to CryptoPotato, while other large-cap assets including Zcash, Dogecoin, and Hype recorded significant losses on the day. The convergence of selling across major positions suggests risk-off sentiment among traders, though the specific drivers remain unclear from available reporting.
Why It Matters
For Traders
XRP buyers defending $1.17 support faced risk of gap fills lower if that level breaks; sellers eyeing $1.60 remain in control of momentum.
For Investors
Repeated rejection at $1.60 signals sustained supply overhead; break below $1.17 could extend losses if market-wide selling accelerates.
For Builders
No direct protocol or infrastructure implications; this is price action within normal market ranges for the XRP pair.
This article is for information only and is not financial advice. Read the full disclaimer.
