XRP is holding just above the $1 mark, a level it has defended since Donald Trump's 2024 election victory. But the technical picture is getting ugly. Both the daily and weekly charts are flashing red, suggesting the cryptocurrency could be running out of steam.
The $1 line in the sand
Since November's election, XRP has repeatedly bounced off $1. That's made the round number a psychological floor for traders. Every dip toward it has been bought, keeping the token from sliding into single digits.
But the repeated tests have a cost. Each time XRP touches $1 and rebounds, the bounce looks a little weaker. The momentum that carried it through the post-election rally has faded, and the charts are starting to reflect that.
Red flags on the charts
The daily chart is showing bearish signals, and the weekly chart isn't much better. Together, they paint a picture of a market that's losing its upward drive. Whether it's a momentum indicator turning down or a moving average beginning to flatten, the message is the same: buyers are getting tired.
That doesn't mean a crash is imminent. XRP has defied bearish readings before. But when both timeframes agree, it's worth paying attention. The last time the daily and weekly charts lined up this way, the token struggled to make headway for weeks.
What might break the standoff
The key is whether $1 holds on a closing basis. A daily close below that level would be a clear signal that support has cracked. That could open the door to a deeper pullback, though no one's calling a specific target.
For now, the market is waiting. Trading volume has thinned out, and the token is drifting in a narrow range. That kind of quiet often precedes a move, and the charts suggest the bias is to the downside.
The next few sessions will determine whether $1 remains a floor or becomes resistance. If XRP can't hold the line, the post-election story takes a different turn.
