XRP Slides Toward $1.20 Support Amid Bearish Pressure

XRP Slides Toward Critical $1.20 Support as Bears Stay in Control

XRP is trading at $1.33 as May concludes, steadily declining to its lowest levels since March without any specific trigger. This downward trend has characterized the altcoin’s performance throughout the latter half of the month.

Key Support Levels Tested

The $1.20 support level is the closest it has been in weeks, and the 100-day moving average has been breached again. The XRP/BTC pair is also testing its recent low, appearing increasingly vulnerable.

Against USDT, the cryptocurrency is just below the upper boundary of a descending channel. The 100-day moving average, around $1.40, now acts as overhead resistance after being surpassed during May. The 200-day moving average continues to decline, currently around $1.60.

The Relative Strength Index (RSI) is hovering around 40, indicating weak momentum with no signs of a bottom forming.

Potential Breakdown Looms

The $1.20 demand zone is now within reach, making the next few daily closes crucial. A potential breakdown below $1.20 would be the first breach of that level since February, potentially leading to a further decline towards the $0.60 zone. Conversely, any recovery attempt would need to reclaim $1.40 and the 100-day moving average to suggest a genuine recovery is underway.

XRP/BTC Pair Analysis

The XRP/BTC pair is trading at 1,760 sats and is testing the pink horizontal support level, which marks the recent low near 1,730 sats.

The price has struggled to sustain a modest recovery above 1,800 sats. The RSI has been oscillating between 30 and 60 throughout May, without any sustained directional movement, reflecting a pair in a state of equilibrium rather than clear directional momentum.

The 100-day moving average, around 1,900 sats, and the 200-day moving average, near 2,050 sats, remain the dynamic recovery targets on either side of the critical 2,000 supply zone.

Below, the lower channel boundary and the demand area near 1,500 sats are the next potential targets if the recent low breaks down. XRP is expected to continue underperforming against BTC, as market sentiment remains largely pessimistic regarding Ripple.