XRP Price Tests $1.40 Support Amid Technical Signals Favoring Bulls

XRP price is at a crucial juncture after a recent strong rally followed by a retracement. The $1.40 support level will determine whether XRP's recovery is sustainable or if another correction is on the horizon.

The token has declined 6.24% over the last 24 hours and is currently trading at $1.38, with a market capitalization of $86.95 billion.

XRP faces a key test after its recent pullback, according to crypto analyst ChartNerd. He stated that daily closes above $1.40 would favor the bulls in the short term, and weekly candles closing above the 50 EMA at $1.54 would provide further validation.