XRP Price Snaps Back From $1.15 Collapse, Bulls Test The Waters

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP price extended losses and traded below $1.30. The price is now consolidating losses but faces hurdles near $1.30 and $1.350. XRP price started another decline and traded below the $1.30 zone. The price is now trading below $1.30 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $1.380 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below $1.40. XRP Price Dips Over 15% XRP price failed to stay above $1.50 and extended its decline, like Bitcoin and Ethereum . The price declined below $1.450 and $1.40 to enter a short-term bearish zone. The price even extended losses below $1.250. A low was formed at $1.1356, and the price is now consolidating losses. There was a minor upward move above the 23.6% Fib retracement level of the downward move from the $1.6320 swing high to the $1.1350 low. The price is now trading below $1.30 and the 100-hourly Simple Moving Average. There is also a bearish trend line forming with resistance at $1.380 on the hourly chart of the XRP/USD pair. If there is a fresh recovery move, the price might face resistance near the $1.30 level. The first major resistance is near the $1.320 level. A close above $1.320 could send the price to $1.380, the trend line, and the 50% Fib retracement level of the downward move from the $1.6320 swing high to the $1.1350 low. Source: XRPUSD on TradingView.com The next hurdle sits at $1.40. A clear move above the $1.40 resistance might send the price toward the $1.420 resistance. Any more gains might send the price toward the $1.450 resistance. The next major hurdle for the bulls might be near $1.50. Another Drop? If XRP fails to clear the $1.320 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.240 level. The next major support is near the $1.2250 level. If there is a downside break and a close below the $1.2250 level, the price might continue to decline toward $1.20. The next major support sits near the $1.1650 zone, below which the price could continue lower toward $1.150. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $1.220 and $1.20. Major Resistance Levels – $1.320 and $1.380.