XRP Slips to $1.38 as Key Support Level Flips to Resistance

XRP has experienced a sharp decline, breaking below the $1.40 support level that had remained stable for several weeks. The asset is currently trading at $1.38, with the previous support now acting as a primary resistance level for short-term price action. This price movement coincides with a rise in Bitcoin dominance, which is currently pushing toward 60%. This trend suggests a broader market rotation where capital is moving away from altcoins and into the market leader, effectively limiting the demand for XRP during this phase. The breakdown was characterized by a clear spike in selling activity rather than a gradual drift, confirming that the move is driven by real selling pressure. The asset is currently consolidating just below the $1.40 mark, with shallow rebounds suggesting that buyers have not yet stepped in with significant strength. From a technical perspective, $1.40 remains the pivotal level; a move back above this mark would signal a failed breakdown. However, if the current trend persists, the next immediate support sits at $1.37. A breach of that level could open a path for further declines toward the $1.32 to $1.28 range.