XRP breaks below $1.40…selling pressure dominant as losses persist

XRP has extended its bearish move after falling below the key support level of $1.40.

According to CoinDesk on the 23rd (local time), XRP slid over the past 24 hours from around $1.44 to roughly $1.38, posting a decline of about 3.7%. Notably, as the selloff unfolded on rising volume, the $1.40 support gave way, suggesting the short-term trend has flipped to bearish.

The drop is seen as being driven largely by technical factors amid broader weakness across the crypto market. XRP has repeatedly failed to sustain an upswing, facing resistance in the $1.55–$1.60 range on each rebound attempt since mid-March.

Institutional demand also appears limited. Recent spot exchange-traded fund (ETF) flows have amounted to net inflows of only about $630,000, showing no meaningful rebound compared with the past.

Technically, XRP is forming a downward channel in the $1.38–$1.42 range, with both lows and highs trending lower— a classic bearish structure. In particular, the $1.40–$1.41 zone has turned into resistance, capping rebound attempts.

The market is watching whether the $1.38–$1.40 area holds as a key variable for near-term direction. CoinDesk said, “If this range is maintained, the door remains open for a renewed rebound after consolidation, but if it breaks, additional losses could extend into the low-$1.30s.”