XRP has experienced a significant price decline, falling below the $1.40 support level, which now acts as resistance. This drop occurred with strong selling volume.

XRP Price Analysis

The token is currently consolidating just under $1.40, following a sharp decrease from $1.40 to $1.38. Minor rebound attempts have been observed, but the $1.40 level remains critical for recovery.

Traders are closely watching the $1.40 level as a potential resistance point. A break below $1.37 could lead to further declines, potentially reaching the $1.32–$1.28 zone. The $1.40 support had held for weeks before breaking.

Bitcoin Dominance Increases

Bitcoin dominance is currently approaching 60%, indicating a shift in capital away from altcoins, including XRP. This rotation has limited demand for XRP as the token unwinds from a prolonged consolidation phase.

The recent price movement marks the first clear break below XRP’s range floor, confirmed by expanding trading volume.

Canada Proposes Crypto ATM Ban

Canada’s Liberal government has proposed a nationwide ban on Bitcoin and other cryptocurrency ATMs. This action is part of a larger effort to combat fraud and money laundering.

Officials have identified crypto ATMs as a key tool used by scammers and criminals to facilitate illicit financial activity, based on data and law enforcement reports. This regulatory move addresses growing concerns about the misuse of cryptocurrency infrastructure.

Expert Prediction on Bitcoin

A prominent crypto expert, known as the 'Crypto Godfather,' believes Bitcoin has not yet reached its bottom. They predict a new all-time high for Bitcoin is unlikely before 2026, reflecting caution amid market volatility and regulatory uncertainty.