XRP has fallen beneath the key $1.40 support level and continues to face downward pressure as selling activity dominates the market. Recovery attempts have repeatedly failed to gain traction, leaving the token in a weakened technical position. The inability to hold above this threshold has shifted market sentiment toward caution among traders.
The token is currently trading within a descending channel, fluctuating between approximately $1.38 and $1.42. The $1.40 to $1.41 zone, which previously acted as support, has now been converted into a near-term resistance area following multiple failed attempts to reclaim it. This pattern reflects sustained selling pressure that has prevented any meaningful upside recovery.
Market participants are closely monitoring the $1.38 to $1.40 range to determine whether it can hold as a support base. A decisive break below this area could clear the path toward the next notable support zone, situated between $1.30 and $1.32. That lower range is considered thinner, suggesting it may offer less reliable price stability if tested.
Originally reported by CoinDesk.
