XRP Price: $1.33 Rejection Raises Bull Trap Risk

XRP rose to about $1.33 on Thursday before sellers pushed it to an intraday low near $1.24, and it traded at $1.25 at 16:37 UTC, down 3.91% on the day on Binance’s daily chart. The reversal followed a Wednesday breakout in which XRP cleared the upper rail of a descending channel, the 0.618 Fibonacci retracement near $1.26 and the 200-day simple moving average at $1.2734, then closed near $1.31 below the 100-day average at $1.3117. The drop came as a broader post-midterm crypto rally unwound and Bitcoin fell below $76.5K. A bull trap, in which buyers are drawn above resistance before a reversal, would be confirmed by the daily close.