XRP retreats 2% as traders lock in gains, dropping below $1.40

XRP gave up its latest gains after a wave of selling pressure invalidated a recent breakout attempt, though buyers returned near the $1.38 support area.

The token slipped back below $1.40 as traders took profits following another rejection at resistance, reinforcing XRP’s position within a tightening multi-month range. With price action increasingly compressed, the market appears primed for a larger move once either support or resistance is decisively breached.

Analysts continue to highlight the ongoing symmetrical triangle structure, noting that XRP may be approaching a critical breakout point. The pullback comes after a stretch of improved sentiment earlier this month, driven by optimism around U.S. crypto regulation and stronger inflows into XRP-linked products.

Over the 24-hour period ending May 18, XRP declined from $1.4138 to $1.3865. The steepest drop occurred during the May 17 23:00 UTC session, when volume surged to 144.3 million, pushing the price from the $1.42 region down to lows near $1.378.

Buyers stepped in around $1.38, helping XRP recover part of its losses into the close and preventing a clean break below the lower boundary of the current consolidation range.

Despite the rebound, XRP remains locked within its broader triangle formation, with volatility continuing to tighten. The repeated rejection near $1.42 suggests sellers still control the upper range, while demand around $1.38 continues to provide support.

Volume spiked during the selloff but faded quickly, indicating profit-taking rather than panic-driven liquidation.

Looking ahead, $1.38 remains a key support level, with a break below it opening the door to a deeper decline toward $1.30. On the upside, XRP needs to reclaim the $1.39–$1.40 range to stabilize near-term momentum. As the triangle compresses further, the likelihood of a significant breakout move continues to build.