XRP retreated after a burst of selling pressure erased its latest breakout attempt, although buying interest reappeared near the $1.38 support zone.

The token fell back below $1.40 as traders capitalized on recent strength, triggering another rejection at resistance. The move highlights XRP’s continued consolidation within a narrowing multi-month range, where prolonged compression is increasing the potential for a decisive breakout.

Market watchers remain focused on the symmetrical triangle pattern that has defined price action in recent months, with several analysts suggesting the asset is nearing a critical turning point. The latest decline follows earlier optimism fueled by developments around U.S. crypto regulation and improved inflows into XRP-related investment products.

In the 24-hour period ending May 18, XRP dropped from $1.4138 to $1.3865. The sharpest decline came during the May 17 23:00 UTC session, when trading volume surged to 144.3 million, sending the price from the $1.42 region to lows near $1.378.

Support emerged around $1.38, allowing XRP to recover part of its losses by the session close and avoid a clear breakdown below the lower boundary of its consolidation range.

Even with the bounce, XRP remains confined within its broader triangle structure, with volatility continuing to contract. The repeated failure near $1.42 suggests sellers retain control of the upper range, while buyers continue to defend the $1.38 level.

The spike in volume during the selloff quickly subsided, pointing to profit-taking activity rather than widespread liquidation.

From a technical perspective, $1.38 now stands as a key support level, with a break lower potentially opening the path toward $1.30. On the upside, XRP needs to reclaim the $1.39–$1.40 range to regain short-term momentum. As the triangle tightens further, the setup increasingly points to a larger directional move in the near term.