Profit-taking drags XRP down 2%, sending it below the $1.40 mark

XRP reversed recent gains after a heavy wave of selling derailed its latest breakout attempt, though dip buyers returned near the $1.38 support zone.

The token slipped back below $1.40 as traders aggressively locked in profits following another rejection at resistance. The move underscores XRP’s continued confinement within a tightening multi-month range, where prolonged compression is increasing the likelihood of a decisive breakout once either boundary gives way.

Market participants continue to point to the ongoing symmetrical triangle formation, with several analysts warning that price action is approaching a critical inflection point. The latest pullback comes on the heels of improving sentiment earlier this month, fueled by optimism around U.S. crypto legislation and stronger inflows into XRP-linked investment products.

Over the 24-hour period ending May 18, XRP declined from $1.4138 to $1.3865. The most pronounced drop unfolded during the May 17 23:00 UTC session, when elevated volume of 144.3 million drove the price from the $1.42 region down to intraday lows near $1.378.

Buyers subsequently stepped in around $1.38, helping XRP recover a portion of its losses into the close. The rebound proved important, preventing a clean breakdown below the lower boundary of the current consolidation range.

Despite the recovery, XRP remains trapped within its broader triangle structure, with volatility continuing to compress. The repeated rejection near $1.42 highlights persistent selling pressure at the top of the range, while the $1.38 level continues to act as a reliable demand zone.

Volume spiked sharply during the selloff before quickly fading, suggesting the move was largely driven by profit-taking rather than widespread panic selling.

Looking ahead, $1.38 remains a key support level, with a breakdown potentially exposing a move toward $1.30. On the upside, reclaiming the $1.39–$1.40 range is critical for stabilizing near-term momentum. As the triangle tightens further, the probability of a larger directional move in the sessions ahead continues to build.