XRP (XRP) gave back gains after a high-volume selloff erased the latest breakout attempt, with buyers stepping back in near support around $1.38.
XRP Rejection At $1.42
XRP slid from $1.4138 to $1.3865 during the 24-hour stretch ending May 18, with profit-takers absorbing every push toward $1.42. The sharpest leg lower unfolded during the May 17 23:00 UTC session.
That single hour saw 144.3 million in volume drag price from the $1.42 area to lows near $1.378.
Buyers later defended $1.38, helping the token claw back part of the overnight slide before the session closed.
The pullback followed a stretch of optimism tied to advancing U.S. crypto legislation and stronger XRP ETF inflows earlier this month.
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Triangle Compression Builds
Analysts are zeroing in on a symmetrical triangle that has squeezed XRP since February, when the token peaked near $1.60.
Each rally since then has printed a lower high. Each dip has carved a higher low. The pattern is now coiling toward its apex.
Crypto analyst Will Taylor recently called the $1.38 zone a defining setup for the token, citing maturing institutional rails at Ripple and the advancing Clarity Act.
Standard Chartered has separately forecast cumulative XRP ETF inflows of $4 billion to $8 billion through year-end if the bill clears the Senate, and J.P. Morgan's research desk now projects total XRP ETF inflows could reach $8.4 billion by December.
Volume on the May 17 leg lower spiked sharply, then faded, a pattern more consistent with profit-taking than panic liquidation. The bounce off $1.38 also kept XRP inside its broader range rather than below it.
XRP Range Recap
Traders are watching $1.38 as the line in the sand. A daily close beneath it would expose $1.30, a level that has absorbed every dip since February.
The $1.39 to $1.40 band is the immediate recovery zone. Reclaiming it would restore some upside structure heading into the apex.
The triangle itself has been narrowing for roughly three months, putting XRP near a decisive resolution.
Earlier in May, the token cleared $1.45 briefly on May 10 before fading, and ETF flows have remained a key swing factor, with weekly inflows of $34.2 million pushing cumulative U.S. spot XRP ETF demand past $1.32 billion.
The Senate Banking Committee's markup deadline before the May 21 Memorial Day recess now looms as the next major catalyst, with passage odds on Polymarket hovering near 62%.
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