Ripple (XRP) is gauging its future direction around the $1.10 mark following a recent sharp decline. In the market, views coexist simultaneously on the possibility of a short-term bottom forming and the potential for further downside.

Fell to $1.05 After Breaking Below the $1.28 Support Level

According to foreign media, XRP recently broke below the $1.28 level, which had been regarded as a key support zone, and was pushed down to the $1.05 level. It was reported that while XRP has since partially recovered its losses and is attempting a rebound, it continues to trade below major moving averages.

Rising Trading Volume and RSI Exit from Oversold Territory... Signals of Improving Sentiment

A notable point is the change in trading volume. As trading volume increased during the decline, the possibility has been raised that a significant portion of the selling pressure in the market has already been absorbed. At the same time, there are assessments that the Relative Strength Index (RSI) has exited oversold territory, showing signs of improving investor sentiment.

Short-Term Inflection Point Hinges on a "$1.20 Recovery"

From a technical perspective, the recovery of the $1.20 level is cited as a short-term inflection point. The forecast suggests that if this level is breached, an additional rebound could extend toward the $1.28 area. On the other hand, if the resistance level is not broken, there is also mention of the possibility of retesting the recent low zone.

Market experts believe that the future macroeconomic environment and Bitcoin's movements will impact the overall altcoin market, including XRP.

[This article was written with the assistance of AI. The cryptocurrency market is accompanied by high volatility. This article is for investment reference purposes only and does not recommend the purchase or sale of any specific asset.]