XRP Price Update
XRP has seen significant losses, trading below $1.3650. While it’s currently consolidating, there are hurdles at both $1.3620 and $1.4120.
- The price has dropped further, now below the $1.350 mark.
- It is trading under the 100-hour simple moving average, which is placed at $1.3650.
- A bearish trend line is forming resistance at $1.4250 on the hourly chart for the XRP/USD pair.
- If it stays beneath $1.450, there’s potential for a continued decline.
XRP’s price, similar to Bitcoin and Ethereum, struggled to reach above $1.40, leading to a widening downtrend. It has now fallen below $1.380 and $1.3650, slipping into a short-term bearish phase.
Losses have extended to under $1.350, hitting a low of $1.330. The price is consolidating losses beneath the 23.6% Fibonacci retracement level from a peak of $1.4641 to the low of $1.3300.
Currently, it’s trading below the 100-hour simple moving average at $1.3650. If there’s another recovery attempt, resistance is likely near $1.3620. The first major resistance is around $1.3810, with a significant resistance level at $1.4120, marking the 61.8% Fib retracement level from the same previous high and low.
Furthermore, there’s a bearish trend line forming resistance at $1.4250 on the hourly XRP/USD chart. A close above this level might push the price up to $1.450.
The next obstacle is at $1.4650. A clear breakthrough past this resistance might lead the price towards $1.50, and further gains could see it rise to around $1.5250. The next considerable challenge for buyers might be at $1.550.
Potential for Further Losses?
If XRP can’t break through the $1.4120 resistance zone, a new drop could start. Support levels are close to $1.3320, with a crucial support zone around $1.3300.
A breakdown below $1.3300 could see the price decline to about $1.3120. Further movement down could push it below the $1.30 mark, potentially reaching $1.2840.
Technical Indicators
Hourly MACD indicates that the XRP/USD pair is currently in a bearish zone.
Hourly RSI (Relative Strength Index) is below the 50 mark.
Major support levels include $1.3320 and $1.3300.
Key resistance levels are at $1.3810 and $1.4120.
