XRP recently failed to hold above $1.40, resulting in a pullback. The price briefly fell below the short-term support at $1.425. However, XRP is currently still around $1.368, and the price remains above the 100-hour moving average, indicating that the bullish momentum in the market has not fully faded.

From a short-term perspective, XRP has broken below the upward trendline near $1.389 on the hourly chart, which means the previous upward momentum has been interrupted, and the market has entered a new consolidation phase. Simply put, the upward momentum has temporarily cooled, and funds are becoming more cautious.

The good news is that $1.368 has now become a very critical support level. If this level can hold, buyers may re-enter, pushing XRP to initiate a new rebound, with the price having the chance to challenge $1.40 or even higher.

Conversely, if selling pressure increases and $1.368 is broken, the short-term trend could weaken further, and the price may continue to seek new support levels downward.

Overall, XRP is currently at a key juncture: holding support could give bulls a chance to rebound; breaking support might lead to further correction. For many traders, the next few trading days will be very crucial.