On May 18, XRP retreated by 2%, settling near $1.3865 as investors cashed in gains after the token failed to breach the $1.42 resistance level. The most vigorous selling occurred during the May 17 23:00 UTC trading hour, where a surge of 144.3 million in volume drove the price from the $1.42 region down to around $1.378. However, buying interest emerged near $1.38, preventing a deeper decline and allowing for a partial recovery by the session’s end.
This rejection carries technical weight because a substantial number of XRP tokens, roughly 1.24 billion, are held by investors who purchased them between $1.45 and $1.47. This concentration forms a significant supply barrier that absorbs buying pressure each time the price approaches that threshold, as previously noted by crypto.news.
The token remains confined within a months-long symmetrical triangle pattern, which is now tightening toward an expected resolution in late May. While sellers maintain control at the $1.42 upper boundary, buyers have consistently defended the $1.38 support level. Analysts highlight that this compression is setting the stage for a decisive move, with the next major catalyst being the Senate Banking Committee’s vote on the CLARITY Act. According to Standard Chartered’s Geoffrey Kendrick, passage could drive $4 to $8 billion in additional inflows into XRP ETFs.
If the $1.38 support breaks, the next likely target is $1.30, as traders who entered at higher levels continue to sell on any bounce. Currently, XRP trades about 62% below its July 2025 all-time high of $3.65. Conversely, a close above $1.42 would be the first clear sign that sellers are losing their grip, potentially opening the door for further gains. Until then, the triangle compression is expected to persist, with analysts warning that the eventual breakout could be swift and sharp.