XRP has maintained support above the $1 psychological level despite recent selling pressure, according to market analyst Paul Bennett. The cryptocurrency declined from approximately $1.30 to near $1.05 before stabilizing, with CoinCodex data showing XRP trading around $1.15. Bennett attributes this price stability to seller exhaustion, describing the $1.05 to $1.10 range as a key defense zone where selling pressure is fading and buyers are absorbing supply. The price action follows a broader market correction in which many traders anticipated a clean break below $1, a breakdown that has not materialized as XRP holds above this widely-watched support area.
XRP Holds $1.05-$1.10 Support Zone Amid Declining Selling Pressure
Paul Bennett identifies the $1.05 to $1.10 range as a temporary battleground where selling pressure is fading and buyers are gradually absorbing supply. He describes this zone as a key defense band that XRP has maintained despite earlier fears of a breakdown below the $1 mark. Round numbers like $1 tend to act as emotional support zones, drawing significant market attention.
When price repeatedly fails to break lower during heavy selling, it often suggests sellers are running out of conviction. The weakest hands exit first, panic follows, and what remains is a thinner pool of participants who need even lower prices to continue selling, levels the market has not been willing to offer. Bennett notes that seller exhaustion means downside momentum is cooling, though this does not indicate that buyers have taken control.
Resistance at $1.30 Marks Recovery Boundary for XRP
The $1.30 level now acts as resistance, marking where the last major selloff accelerated. Bennett states that for any meaningful shift in trend, XRP would need to reclaim the $1.30 zone with conviction. Until this level is broken, the market remains in recovery rather than uptrend territory.
Bennett clarifies that XRP's current setup is not a bullish reversal signal. From the current position, XRP can move sideways or revisit lower levels if momentum fades. If the $1.05 to $1.10 zone continues to hold, consolidation becomes the most likely outcome as the market digests recent volatility. A clean break below $1 would reset sentiment and reopen the door to another leg down.
Broader market conditions matter as well. Stability in Bitcoin helps prevent deeper altcoin breakdowns, but does not guarantee continuation. After sharp corrections, markets often drift in ranges longer than most expect. Some analysts point to a growing divergence between price weakness and rising network activity, a gap that could become important if it continues to widen.
FAQ
What price level is XRP currently holding above?
XRP is trading around $1.15 and has maintained support above the $1 psychological level, specifically defending the $1.05 to $1.10 range that Paul Bennett identifies as a key support zone.
Why has XRP not broken below $1 despite recent selling pressure?
Paul Bennett attributes the price stability to seller exhaustion, where selling pressure is fading and buyers are absorbing supply in the $1.05 to $1.10 range. When price repeatedly fails to break lower during heavy selling, it suggests sellers are running out of conviction.
