[Analysis] "XRP, defensive phase after breaching key support…must retake $1.87"

XRP (XRP) is attempting a rebound after the short-term support line collapsed, but analysts say selling remains dominant in the supply-demand structure and a defensive price action continues.

On the 30th (local time), CoinDesk reported, "XRP's price fell from $1.89 to $1.85, clearly breaking the $1.87 area that had served as support during the consolidation phase."

According to the outlet, volume during the breach of that range was about 68 million XRP, an approximately 77% increase compared with the 24-hour average. This suggests the movement was accompanied by active selling rather than a natural decline caused by a liquidity gap.

On the short-term chart, a double-bottom pattern was observed around $1.846~$1.848, but rebound attempts are repeatedly being blocked at the $1.85 level. As a result, $1.85 is now acting as a short-term resistance rather than a support. The overall structure also remains in a down channel, showing a typical bearish pattern of lower highs whenever rebounds occur.

From a supply-demand perspective, increased inflows to exchanges are acting as a burden. CoinDesk explained, "An increase in exchange inflows means assets are moving to exchanges for additional selling, and supply is being released whenever a rebound occurs." In the medium to long term, demand from exchange-traded funds (ETFs) could play a buffering role, but it has not yet provided clear support for short-term price formation.

The key going forward is whether the $1.85 level holds. The outlet said, "If the $1.85 range is further breached, downside pressure could open via $1.84 down to the $1.77~$1.80 demand zone," and added, "Conversely, if it retakes $1.87 and holds above $1.90, the door could open to re-challenge the $1.95~$2.00 range." However, unless Bitcoin's trend recovers, XRP is likely to remain in a support-testing phase rather than produce a clear rebound for the time being.