XRP fell after hitting resistance near $2.40. The price was rejected at the 0.618 Fibonacci retracement, aligning with the Point of Control (POC), where most trading volume historically occurs.
Acceptance below the POC signals weak bullish momentum. Buyers failed to hold above the high-volume zone, suggesting the recent rally may be corrective rather than a trend reversal.
Volume confirms the rejection. XRP rose into resistance on muted volume, then fell on stronger selling pressure. This imbalance indicates that demand is weak at higher prices.
Focus now shifts to the value area low. This represents the lower boundary of fair value within the current range. If it holds, XRP could stabilize and trade sideways.
Failure of the value area low opens the door to $1.79. This level has acted as structural support before and is the likely target if selling pressure continues.
Short-term outlook: As long as XRP remains below $2.40 and the POC, the bias favors downside. A bounce at $1.79 could set the stage for renewed range-bound trading, while a break below would signal a deeper corrective move.
