XRP Price Outlook: The Battle for $1.40 Support

After a rejection at the $1.55 resistance level, XRP is currently navigating a period of high volatility. While the altcoin has formed an ascending trendline throughout May, recent price corrections have left investors questioning whether the current momentum can be sustained or if a deeper retracement is imminent.

The Crucial $1.40 Pivot Point

Market analysts from MCO Global indicate that XRP’s short-term future hinges on a vital micro-support zone at $1.40. Despite the "choppy and nervous" price action observed over the last two weeks, this level has successfully held firm against selling pressure. Technical analysis using Elliott Wave theory suggests that the recent retests of $1.40 represent a corrective bounce; as long as the price remains above this floor, the path toward higher targets remains open. If $1.40 holds, experts project a high likelihood of a renewed surge toward the $1.55–$1.58 range. In a more bullish scenario, a breakthrough at these levels could extend the rally to $1.67, marking a potential 16% gain from current trading prices.

Downside Risks and Market Structure

Conversely, the margin for error is slim. A decisive break below $1.40 would likely trigger an immediate drop to $1.37. Should that floor fail to hold, traders are looking at a secondary support level at $1.30, which aligns with the lower trendline of a developing symmetrical triangle. Currently, XRP is trading around $1.43, down nearly 4% in 24 hours. While daily trading volume has decreased significantly, the asset maintains a slight monthly gain, keeping recent entrants in profit. As the fifth-largest cryptocurrency by market cap, XRP’s ability to stabilize above $1.40 will be the primary indicator for its next major move.