XRP erased its recent gains after a surge in selling pressure halted its latest breakout attempt, although buyers resurfaced near the $1.38 support level.
The token slipped below $1.40 as traders took profits aggressively following yet another rejection at resistance. The move reinforces XRP’s ongoing consolidation within a tightening multi-month range, where compressed price action is heightening the risk of a sharp directional breakout.
Analysts continue to focus on the symmetrical triangle pattern forming over recent months, with many suggesting the asset is nearing a decisive move. The latest decline follows a period of improved sentiment earlier this month, supported by optimism around U.S. crypto legislation and increased inflows into XRP-related investment products.
In the 24 hours ending May 18, XRP fell from $1.4138 to $1.3865. The most significant drop occurred during the May 17 23:00 UTC session, when trading volume surged to 144.3 million, driving the price from around $1.42 down to lows near $1.378.
Buying interest returned around the $1.38 level, allowing XRP to recover part of its losses by the session close. This bounce helped prevent a confirmed breakdown below the lower boundary of the current consolidation range.
Even so, XRP remains confined within its broader triangle structure, with volatility continuing to narrow. The repeated rejection near $1.42 indicates that sellers still dominate the upper range, while demand around $1.38 continues to provide support.
The spike in volume during the selloff was short-lived, pointing to profit-taking activity rather than widespread panic selling.
Looking forward, $1.38 remains a critical support level; a break below it could expose XRP to further downside toward $1.30. On the upside, reclaiming the $1.39–$1.40 range is key to restoring short-term momentum. As the triangle tightens, the likelihood of a larger breakout move in the near term continues to increase.
