- XRP trades at $1.43 after an 11.0% daily decline, holding just above the $1.42 support level.
- Price remains below the $1.50 level referenced on the daily megaphone structure shown on the chart.
- The 24-hour range stays defined between $1.42 support and $1.61 resistance as volatility expands.
XRP is under close observation as price trades below a key structural threshold on the daily chart. This action puts XRP at a slightly higher point than the level of support at $1.42 but still lower than the zone of $1.50 as indicated in the chart.
It is worth noting that the chart depicts an expanding structure, which is commonly referred to as a megaphone structure. The weekly positioning below $1.50 which happened this week casts doubts on the legitimacy of the said structure without conditional consideration to visible price placement alone.
Daily Chart Structure and Megaphone Formation
In the daily chart, the price movements are increasing within upward-sloping resistance and downward-sloping support lines. These lines create the megaphone shape as pointed out in the chart image. Nonetheless, the existing price movement lies towards the bottom of that structure.
It is worth noting that the chart has some numbered swing points, with a broadening volatility as time passes. The most recent decline places XRP closer to the lower trend line. As price approaches this area, the structure becomes sensitive to further downside movement. This positioning leads directly into an examination of support and resistance behavior.
Key Levels Define the Current Trading Range
XRP currently trades within a defined 24-hour range, bounded by $1.42 support and $1.61 resistance. The $1.42 level has limited recent downside attempts. However, price remains well below the $1.61 resistance, which caps the upper range.
Notably, the $1.50 level sits between these zones and aligns with the chart’s structural discussion. A close below $1.50 this week appears on the chart as a critical reference point. With these levels established, short-term performance across pairings adds further context.
Short-Term Performance and Scenario-Based Outlook
During the last day, XRP dropped 11.0% in dollar value and finished the day at 1.43. Comparing Bitcoin XRP was exchanged at 0.00002010 BTC, which was recorded to have gained by 4.4 percent.
These figures were experienced when price was close to support. Under bullish intraday conditions, the price may range between 1.50 and 1.61 in case of resistance. Conversely, a bearish scenario keeps price between $1.42 and slightly below if support weakens. These scenarios reflect only the chart levels and reported price data.
