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Market attention has shifted to $XRPas the token trades near a key technical zone after failing to clear its upper trendline. $XRPremains close to support as on-chain data shows weaker network activity compared with late 2024 levels.

As of press time, $XRPis trading around $1.39 and down by 2.19% over the past 24 hours and remains inside a tight $1.38 to $1.42 range. The token is now testing the lower support line of a multi-month descending triangle on the 2-hour chart.

$XRPPrice Tests $1.38 Support

The support area sits near $1.38. $XRPmoved into this zone after it failed to break above the upper side of the pattern. The $XRPprice is still holding above the blue moving average, which is acting as short-term support.

Resistance remains near the red moving average between $1.40 and $1.4199. A clear move above that region could shift attention back to the triangle top near $1.4525. Until then, the market remains locked between nearby support and resistance.

Source: TradingView

The chart structure still shows a descending triangle that formed after the April high near $1.50. Its trendlines are moving closer together, which places $XRPnear a possible decision point. The RSI has fallen to around 45 to 50, showing neutral momentum.

However, low selling volume keeps the chance of a breakout open, but the chart has not confirmed a direction yet. Key support levels remain at $1.3799, $1.3649, and $1.3428.

$XRPNetwork Activity Weakens as Spot Selling Continues

Glassnode reported that new $XRPaddresses fell from 18,000 per day in December 2024 to 2,700 per day today. That marks an 85% decline and shows that user growth has weakened.

Monthly active supply shows the same trend. It dropped from 7.45 billion $XRPper day to about 2 billion $XRPper day over the same period. Glassnode said the speculative wave behind $XRP’s late-2024 surge has largely unwound at the network level.

However, market flows showed continued selling pressure. In an X post, analyst Dom said Binance spot markets had net-sold more than $35 million worth of $XRPover the past seven days.

Source:X

He said buyers appeared to be reloading resting buy orders to absorb the supply. Despite that pressure, $XRPcontinued to grind higher.

Dom added that a shift from net selling to net buying would be important for short-term relief. He said such a move could help trigger a breakout attempt.

Related: Bitcoin Eyes $88.8K Breakout as Key Sell Walls Stack Up

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