Ripple's Bounce Falters at Key Resistance Amid Broader Market Weakness

XRP suffered a steep decline on Saturday morning, plummeting to a session low of $1.27 before recovering slightly to around $1.33.

The token's drop was part of a broader market sell-off triggered by the US-Israeli military strikes on Iran, which saw Bitcoin fall 6.5%, Ethereum slide 9%, and Solana decline by over 10%.

Although XRP partially rebounded, its recovery has been cautious, with volume contracting during the rise - a sign that buyers may not be convinced of a sustained rally.

The token's technical structure is also weakening, having rejected $1.45 earlier in the week and setting off a sequence of lower highs and lows leading up to the weekend.