XRP Price Dips Below Key Level as Analysts Monitor Trendline

XRP's recent price drop has left investors on edge, as the token fell below the crucial $1.40 level. Technical analysts are now eyeing a rising trendline that could determine whether XRP moves towards $1 or stabilizes at current levels.

Exchange reserves have fallen to around 2.75 billion tokens, suggesting holders may be moving tokens away from trading platforms and reducing available sell pressure. However, this does not necessarily prevent short-term losses.

One technical analyst, AllInCrypto, has noted that a sub-$1 XRP move remains possible if current support fails. He still maintains a long-term target of above $19 for XRP, but warns that the move may take longer than expected.