XRP Price Under Pressure: Can Bulls Defend $1?

XRP’s recent surge towards $1.26 has stalled, encountering significant resistance and triggering a wave of profit-taking. This selling pressure threatens to push the price back below the crucial psychological support level of $1. Technical indicators suggest the market is currently overbought, adding to the concerns of a potential price correction.

While the long-term outlook for XRP remains a subject of debate amongst analysts, the immediate pressure is undeniable. The ability of buyers to defend the $1 mark will be a key indicator of the cryptocurrency’s short-term strength. A sustained break below this level could signal further downward movement.

Traders are closely monitoring volume and price action for clues about the next major move. The coming days will be critical in determining whether XRP can consolidate its gains or succumb to the prevailing bearish sentiment.