Crypto World

Will XRP price fall below $1.30 support

Published

2 days ago

8 April 2026

Will XRP price fall below $1.30 support after a failed breakout at $1.35? - 1

XRP price has now rejected the descending trendline resistance at least three times since late March, and the most recent failure on April 6 to 7 arrived on rising volume, a signal analysts associate with bearish continuation rather than consolidation.

Summary

XRP price is at $1.3184 on April 7 after being rejected at the descending trendline near $1.35 for the third time since late March, with the 1H Supertrend at $1.3247 acting as immediate resistance above current price.
The 1H MACD line sits at -0.0046 with the signal at -0.0059 and a barely positive histogram of 0.0013, with both lines in negative territory confirming the absence of bullish momentum despite the marginal uptick.
A break below the $1.30 to $1.28 support zone exposes the 23.6% Fibonacci retracement at $1.28, below which holder support thins toward $1.15, while a confirmed daily close above $1.35 is required to shift the near-term bias.

XRP (XRP) price is trading at $1.3184 on April 7, down 1.9% from the session’s high after failing to close above the descending trendline resistance near $1.35 on April 6. The rejection is visible on the 1H chart as a red arrow marking where price touched the diagonal trendline and reversed, the third such failure since late March with prior rejections marked at lower trendline contacts. The 1H Supertrend at $1.3247 is now sitting just above current price, providing an additional near-term ceiling that compounds the trendline rejection signal.

On the 1H chart, XRP is trading within a structure defined by a descending trendline that has produced at least three confirmed rejections since March 21, visible as orange circles at prior high points where price touched and reversed from the diagonal resistance. The red arrow marks the most recent rejection, the most significant because it followed a recovery from the $1.27 zone that briefly raised expectations of a breakout attempt.

The 1H MACD line sits at -0.0046, with the signal at -0.0059 and a histogram reading of 0.0013. Although the MACD line is fractionally above the signal, both lines remain in negative territory and the histogram reading of 0.0013 is too small to constitute a meaningful bullish cross. Per market data published April 7, the daily RSI stands at 38, described as “weak momentum, but not yet in oversold territory,” meaning there is no technical floor from that indicator alone. The same analysis noted that open interest is rising alongside falling price, a sign traders are adding short positions rather than accumulating, which tends to amplify downside moves if support gives way.

Key Levels: $1.28 Fibonacci and $1.15 Bear Target

The $1.30 to $1.31 zone is the immediate structural support. A closing break below it exposes $1.28, which has held since February and aligns with the 23.6% Fibonacci retracement of XRP’s prior rally. Below $1.28, holder support thins materially toward $1.15 as the next significant structural level. On the upside, a confirmed daily close above the descending trendline at $1.35 is the minimum requirement to shift the near-term bias, and would also need to clear the 50-day EMA at $1.38 to open a path toward $1.40 to $1.45. The CLARITY Act, with a late April Senate markup targeted, is a binary catalyst that could shift the structural picture if passed, but a failure extends the current setup lower.

Derivatives and ETF Flow Context

Spot XRP ETFs recorded $3.56 million in net outflows in the week ending April 6, per CoinMarketCap data, reflecting reduced demand at a point where fresh capital is needed to challenge trendline resistance. The combination of ETF outflows, rising futures open interest consistent with short positioning, and thinning order book depth on Binance leaves XRP exposed to larger moves once either level breaks.

If $1.30 holds on a daily close, the range between $1.28 and $1.35 remains the decision zone. A close below $1.28 targets $1.15 as the next significant support.

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Crypto World

Covenant AI Leaves Bittensor Amid Decentralization Concerns, TAO Drops 18%

Published

5 minutes ago

10 April 2026

NewsAdmin

Covenant AI Leaves Bittensor Amid Decentralization Concerns, TAO Drops 18%

Bittensor subnet developer Covenant AI said Friday that it is leaving the decentralized artificial intelligence network, accusing Bittensor of operating under a concentrated governance structure that undermines its decentralization claims.

In a Friday post on X, Covenant AI founder Sam Dare said the team could no longer build on or raise for Bittensor because its governance was not meaningfully distributed.

“It is decentralization theatre,” Dare said. “Jacob Steeves maintains effective control over the triumvirate, resists any meaningful transfer of authority, and deploys changes unilaterally whenever he chooses, without process and without consensus.”

The dispute cuts to the core of Bittensor’s decentralization pitch. Covenant AI alleged that founder Jacob Steeves, known as Const, exerts outsized influence over governance and network operations, an accusation Steeves denied.

Bittensor’s governance documents describe a transitional system in which a “Triumvirate” of Opentensor Foundation employees holds root permissions alongside a senate, rather than a fully open governance model.

Covenant AI claims subnet emissions were suspended, Bittensor founder denies allegations

Covenant AI said Steeves had taken several actions against the project in recent weeks, including suspending emissions to its subnet, restricting moderation powers in community channels and applying “direct economic pressure” through visible token sales during the dispute.

Steeves rejected the allegations, claiming that he cannot suspend subnet emissions and that he does not hold “any privilege beyond what normal TAO holders have.”

In a Friday X response, Steeves said he sold some of his “alpha holdings on his three subnets because they were not running and were on near 100% burn code,” which changed the emissions the same way “all buys and sells on Bittensor do.”

Steeves also denied stripping Covenant AI of its moderation rights, saying he only temporarily removed the team’s ability to delete posts before restoring it. He added that large token sales would have been visible onchain.

“Less than 1% of what i had invested in his teams. Visibility is impossible to avoid in my position. I reserve my right to buy and sell tokens which is what underpins the entire system of dTao,” he added.

Bittensor previously garnered mainstream attention after Nvidia CEO Jensen Huang praised the decentralized training run on Bittensor Subnet 3, calling Covenant’s milestone of pre-training the largest decentralized LLM a “remarkable technical achievement,” during the All-In Podcast on March 19.

TAO’s sales volume skyrockets ahead of Covenant AI’s departure announcement

The governance dispute also weighed on Bittensor’s (TAO) token, which was down around 18% over the previous 24 hours as of Friday morning, according to market data.

*TAO/USD, 1-week chart. Source: CoinMarketCap*

However, sell volume on TAO rose to its highest level since December 2024, about 24 hours before Covenant AI announced its departure. “If you think that’s a coincidence, you don’t understand the game you’re playing. This was a calculated exit and execution,” wrote crypto analyst Ardi in a Friday X post.

Cointelegraph reached out to Covenant AI and Bittensor for comment but had not received a response by publication.

The dispute raises wider concerns for projects striving for decentralization, according to David and Daniil Liberman, co-creators of the decentralized layer-1 blockchain Gonka protocol.

“Decentralized networks that want serious builders have to answer one question: can the infrastructure you build on be used against you? If the answer is yes, the decentralization is cosmetic,” they told Cointelegraph.