XRP Price Drops Sharply to $1.33 Amid Bitcoin Weakness and Heavy Selling

XRP suffered a sharp intraday breakdown, plunging from about $1.36 to $1.33 on heavy volume.

The drop pushed price below the $1.35 level, which has now turned into resistance alongside the $1.40 to $1.41 zone.

@coindesk

Weak follow-through on the bounce and fading volume suggest sellers remain in control.

CoinDesk reported that XRP fell from $1.36 to $1.33 in minutes, with a rapid spike in volume triggering a cascade of selling.

The Dhaka Tribune noted that high volume on the way down typically points to distribution rather than accumulation.

The key signal is how quickly support failed and how weak the recovery has been.

XRP remains below key resistance levels and continues to trade within a broader downtrend.

CoinDesk

Indicators are mixed, with volatility compressing even as momentum weakens.

CoinDesk explained that price moved quickly, which is typical in current conditions where order books remain relatively shallow.

Traders should watch $1.35 as the immediate pivot after breaking down.

XRP's decline occurred amid bitcoin weakness pulling down majors across the crypto market.

CoinDesk framed the move as a liquidation-style selloff triggered by bitcoin weakness.

The broader market context adds pressure to XRP, which has been stuck in a downtrend since the collapse of FTX.

Analysts remain split, with some calling for deeper downside while others see a larger cycle recovery.

The market is stuck between breakdown risk and the potential for a sharp reversal.