$XRP is below a supply zone it needs to retest before the next leg down plays out.
Ripple has been in a controlled decline since the May 14 spike to $1.50 and the 4-hour structure on Bybit spot is now mapping a two-phase sequence that tells you exactly what to watch over the next few sessions.
Current price at $1.3909 is sitting below the pink supply zone between $1.4215 and $1.4299. That zone sits unmitigated above current price after the aggressive selloff from the highs. Price broke out of it to the downside with momentum but has not come back to properly retest it. The projection mapped on this chart expects that retest to happen first before the continuation lower develops.
The bounce from current levels into $1.4215 to $1.4299 is not a recovery signal. It is the setup completing itself. Supply zones that get retested from below after an initial breakdown consistently produce the sharpest rejections because sellers who did not fully distribute on the first pass add to their positions on the return. That rejection is what activates the second phase.
Once supply reasserts between $1.4215 and $1.4299 the blue projection window outlines the path toward the $1.3445 floor. That level has been marked as the hard structural support across the entire range visible on this chart. A move from the supply zone rejection to $1.3445 represents roughly a 4% decline and the path between those two levels has minimal demand structure to interrupt it.
The $1.4417 and $1.4391 resistance levels sitting above the supply zone confirm that overhead pressure is layered. Even a clean break through the pink zone faces additional sellers before any meaningful recovery could develop.
Supply zone rejects at $1.4215 to $1.4299, $1.3445 is the destination. Clean break above $1.4417 changes the read entirely.