XRP Price Walks a Tightrope As Downside Threat Persists
Analysis
Price Impact
MedXrp failed to sustain recent gains, declining below critical support levels and the 100-hourly simple moving average. the price faces strong resistance, indicating a potential for further downside if key support levels are not held.
Trustworthiness
HighThe source explicitly states a strict editorial policy focusing on accuracy, relevance, and impartiality. content is created by industry experts, meticulously reviewed, and adheres to the highest standards in reporting.
Price Direction
BearishXrp failed to clear the $1.4650 resistance and is now trading below $1.380 and the 100-hourly sma. technical indicators show the macd gaining pace in the bearish zone and the rsi is below the 50 level, both signaling bearish momentum. a declining channel adds to the downside pressure.
Time Effect
ShortThe analysis is primarily based on hourly charts and immediate resistance/support levels, suggesting potential price movements over the next hours to days.
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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 failed to surpass $1.4650 and started another decline. The price is now correcting gains and might struggle to stay above $1.320. XRP price started a downside correction and declined below $1.40. The price is now trading below $1.380 and the 100-hourly Simple Moving Average. There is a declining channel forming with resistance at $1.3880 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above $1.30. XRP Price Dips To Support XRP price failed to stay above $1.4650 and started a downside correction, like Bitcoin and Ethereum . The price dipped below the $1.420 and $1.40 levels to enter a negative zone. The price even tested the 50% Fib retracement level of the upward move from the $1.1356 swing low to the $1.5435 high. The bulls are now active near the $1.340 zone. Besides, there is a declining channel forming with resistance at $1.3880 on the hourly chart of the XRP/USD pair. The price is now trading below $1.3850 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.3880 level. The first major resistance is near the $1.40 level, above which the price could rise and test $1.420. Source: XRPUSD on TradingView.com A clear move above the $1.420 resistance might send the price toward the $1.450 resistance. Any more gains might send the price toward the $1.4820 resistance. The next major hurdle for the bulls might be near $1.50. Downside Continuation? If XRP fails to clear the $1.40 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.340 level. The next major support is near the $1.30 level or the 61.8% Fib retracement level of the upward move from the $1.1356 swing low to the $1.5435 high at $1.2920. If there is a downside break and a close below the $1.2920 level, the price might continue to decline toward $1.2650. The next major support sits near the $1.250 zone, below which the price could continue lower toward $1.2250. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $1.340 and $1.2920. Major Resistance Levels – $1.3880 and $1.40.