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XRP drops 3.7% as break below $1.40 signals renewed downside risk

Traders are watching the $1.38–$1.40 zone after repeated failures to reclaim resistance.

By Shaurya Malwa Mar 23, 2026, 5:04 a.m.

What to know:

XRP has fallen below the key $1.40 support level and remains under pressure as sellers dominate and recovery attempts falter.
The token is trading in a descending channel between roughly $1.38 and $1.42, with repeated failures to reclaim $1.40–$1.41 turning that zone into near-term resistance.
Traders are watching whether the $1.38–$1.40 area can hold as support, as a decisive break lower could open the way toward the thinner $1.30–$1.32 support zone.

XRP dropped below the $1.40 level after a sharp wave of selling and is still struggling to recover, with buyers unable to push prices meaningfully higher. The weak bounce suggests selling pressure remains stronger than demand, keeping the token under pressure as traders look for signs of stabilization near current levels.

News Background

XRP moved lower alongside broader crypto weakness, but the key driver was technical, with price losing the $1.40 level that had acted as near-term support.
The token has struggled to sustain recovery attempts since mid-March, with rallies consistently fading below the $1.55–$1.60 area.
Spot ETF flows showed limited improvement, with a modest $636K in weekly inflows — far below earlier demand, pointing to subdued institutional participation.

Price Action Summary

XRP fell from $1.4404 to $1.3872, down roughly 3.7% over 24 hours.
A high-volume move near 23:00 pushed price to $1.4018 before support gave way.
Price then consolidated between $1.38 and $1.42, forming a descending intraday structure.
A late bounce attempt toward $1.386 failed to hold, reinforcing near-term weakness.

Technical Analysis

The break below $1.40 is the key development, confirming a loss of short-term structure and shifting momentum back toward sellers.
Price is now trading in a descending channel between roughly $1.38 and $1.42, with lower highs forming on declining volume — a typical distribution pattern.
Attempts to reclaim $1.40–$1.41 have been rejected, turning the level into immediate resistance.
The broader trend remains bearish, with XRP still trading within a multi-month downtrend defined by lower highs since mid-2025.

What traders say is next?

Traders are focused on whether the $1.38–$1.40 zone can hold as support.
If this range stabilizes, XRP may consolidate before another attempt toward $1.41–$1.44, with a broader test near $1.55 needed to shift structure.
A clean break below $1.38 would expose the $1.30–$1.32 zone, where support is thinner and downside could accelerate.
For now, momentum favors sellers, with any bounce viewed as corrective until resistance levels are reclaimed.

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