The XRP Ledger recorded a sharp decline in payment transactions, losing about 400,000 transactions overnight in a week marked by significant volatility across the cryptocurrency market. The cause of this sudden drop has not yet been clarified. Observers pointed to either the impact of recent market turbulence or a reduction in automated or low-value transfers as possible explanations.
Key support and resistance levels tested
At the same time, XRP’s price reflected mounting pressure. The token fell from roughly $1.50 earlier this week to trade near $1.3866. During Thursday’s trading, it touched approximately $1.32 before rebounding to current levels.
A significant technical level sits at the long-term average near $1.38, which XRP is currently testing. In September, this level held as strong support, and analysts are watching closely to see if it will do so again. Slightly below, the next safety net appears at the $1.335 orange average, which previously served as support for XRP’s recent low.
On the upside, resistance emerges at the blue average around $1.40 and at the cyan average near $1.43. Further resistance is visible at the green average around $1.45, while the September high of about $1.66 remains distant.
Market sentiment and technical signals
The current Relative Strength Index (RSI) stands near 42, indicating a weak market without reaching oversold territory. Trading volume increased during XRP’s decline but has stayed subdued on the subsequent price rebound, suggesting that sellers have been more aggressive than buyers in recent sessions.
So far, buying pressure has failed to impress. For sentiment to shift in favor of the bulls, XRP would need to close above the key $1.40 level on a daily basis, reclaiming its short-term average and opening paths to the $1.45 and $1.50 resistance areas. If the price slips beneath $1.38, bearish momentum may accelerate.
A move below $1.38 would indicate additional downside risk, with the next potential supports at $1.335 and the $1.25 region, previously tested in September. Despite concerns from the transaction drop, XRP continues to hold above its primary support level.
Market monitoring and trading efficiency
Crypto market conditions remain sensitive to sudden events, from key central bank announcements to unexpected altcoin listings. In these circumstances, investors have increasingly looked to consolidate their trading activity and market monitoring. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.
As volatility persists, traders are closely watching the $1.38 support. Sustained strength above this threshold, paired with steady network activity, could trigger a rebound toward $1.45. If XRP loses this key support, attention is likely to shift toward the $1.30 mark.
