XRP tests key $1.14 level for support after volume-backed breakout

XRP is testing whether its former key resistance level of $1.14 can flip to support after breaking above it with a surge in trading volume, according to an analysis by CoinDesk. In technical analysis, a broken resistance level often becomes a new support zone. CoinDesk noted that trading volume during the breakout reached 81.89 million XRP, 207% above its daily average. The buying pressure initially pushed XRP to a high of $1.1594 before selling pressure caused it to retreat to $1.146. The move followed nine consecutive weeks of net inflows into XRP spot ETFs, which attracted a total of $17.19 million. However, potential catalysts have been delayed, such as the canceled vote on the CLARITY Act. The outlet explained that while most XRP investors are currently at a loss, positive technical signals have emerged, including a breakout from a downtrend on the four-hour chart and a bullish divergence. Key factors to watch are whether the $1.14 level holds as support and if XRP can overcome the next resistance area between $1.17 and $1.20.