7.14 Tuesday XRP midday thoughts

XRP current price is around $1.07, with a 24-hour drop of about 3.3%. The intraday range is $1.056–$1.098. The weekly chart has continued to weaken, and as a mainstream coin in the cross-border payments sector, its high-beta characteristic makes this pullback stronger than BTC. Overall trading volume has shrunk by 30% compared with the monthly average level. Market funds are in full wait-and-see mode, awaiting the direction provided by the US CPI inflation data this evening.
Technically, the daily chart has officially entered a downward channel. Price has broken below multiple long-term moving averages, including the 50-day, 100-day, and 200-day. RSI has fallen to around 39, a weak range, and bears dominate the tape. Near-term resistance is $1.12–$1.16, where short-term moving averages strongly cap the upside. Only if volume expands and price holds above that level can a rebound be repaired. The key medium-term resistance is $1.26, the crucial level to reverse the weak trend. Near-term first support is $1.05, and the $1.00 integer level is the lifeline between bulls and bears. Once there is an effective break below it, the market will open the downside channel and target the low-end range around $0.78.
Trade idea: look for it to trade in the $1.075–$1.085 range, aiming for $1.055–$1.045$BTC $ETH $SOL