XRP Holds $1 Level as Selling Pressure Fades

XRP is currently testing the important $1 psychological support level. While the coin remains in a long term downward trend defined by a descending channel, the latest price action shows that sellers are getting tired. This area is critical, as buyers are now stepping in to see if they can hold this floor.

Looking at the daily charts, the technical outlook is still leaning toward a bearish structure. XRP faces tough resistance between $1.11 and $1.15. To change the current trend, the price must clear these hurdles and move past the $1.20 mark. Until that happens, any sudden gains are likely just temporary corrections rather than a major shift in momentum.

On the shorter 4 hour timeframe, there is a glimmer of hope. A bullish divergence is appearing on the Relative Strength Index, which suggests that the selling pressure is indeed weakening. For this to turn into a rally, XRP needs to break through the immediate resistance zone near $1.02 to $1.03. If the price fails to hold the $1 level, the next major support zone to watch is between $0.88 and $0.97.