XRP Sees Brief Dip but Holds Above Key Support, Eyes on $1.30

XRP has seen a brief dip to $1.05 but is now holding above $1.14 support, according to analysts who view this as a necessary 'reset' before any potential recovery.

The price drop triggered stop losses and forced leveraged traders out of positions, allowing buyers to step in and drive the price back up.

Market analyst CryptoPulse described the move as a 'capitulation flush', suggesting that selling pressure may be slowing down based on the Relative Strength Index (RSI).

The RSI has formed a bullish divergence, with the price making a lower low while the RSI forms a higher low. This is a sign that the selling pressure is decreasing.