XRP is seen trying to stabilize at around US$1.38 after experiencing selling pressure from its previous high of around US$1.70. On the 1-hour chart, the price is showing a recovery from the US$1.34 area, but it is not yet strong enough to turn the momentum into a full bullish one.
XRP’s current movement is also influenced by the overall sentiment of the crypto market. Bitcoin is still holding around US$78,000–US$79,000, but most altcoins are under pressure as rising oil prices and US bond yields increase concerns about a more hawkish Fed policy.
The 10-year Treasury yield is currently around 4.78%, while expectations of a Fed rate hike in September have also increased. This situation usually puts pressure on riskier assets including crypto.
US$1.40 Becomes an Important Level
From a technical analysis perspective, US$1.40 is the nearest resistance. XRP is currently slightly below that level and is still struggling to break through it.
If the price manages to close the 1-hour candle above US$1.40, the recovery momentum could potentially continue to the US$1.42 area, before testing higher resistance around US$1.45.
Conversely, if XRP fails to break above US$1.40 and falls back below US$1.38, selling pressure could potentially pick up again. The next support is seen around US$1.35–US$1.36, in line with the previous price bounce area.
Next Direction
Currently, XRP is in a recovery phase but remains cautious.
ETF support and institutional interest provide some positive ground, but pressure from US bond yields, hawkish Fed expectations and altcoin weakness remain headwinds.
US$1.40 is a level to watch.
A solid break above it could open the way for a recovery higher, while a failure to break above that level could see XRP retest US$1.35–US$1.36.
