XRP Price Downside Momentum Builds Amid Fading Recovery Hopes
Analysis
Price Impact
HighXrp price extended losses below $1.40, mirroring btc and eth. it's trading below $1.420 and the 100-hourly simple moving average, indicating strong downside momentum. key resistance levels are holding firm, suggesting a significant bearish trend.
Trustworthiness
HighThe source explicitly states a 'strict editorial policy that focuses on accuracy, relevance, and impartiality,' created by 'industry experts and meticulously reviewed,' and adhering to 'the highest standards in reporting and publishing.'
Price Direction
BearishThe price has failed to sustain above $1.450 and declined below critical support levels like $1.420 and $1.40. technical indicators, including the hourly macd gaining pace in the bearish zone and rsi below 50, confirm a strong bearish sentiment. multiple resistance levels (e.g., $1.450, $1.4620) are acting as hurdles, with a key bearish trend line active.
Time Effect
ShortThe analysis is based on hourly charts, focusing on immediate price movements, hourly moving averages, and short-term support/resistance levels. this indicates a focus on near-term trading dynamics.
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Article Content:
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 $1.40. The price is now consolidating losses but faces hurdles near $1.4320 and $1.450. XRP price started another decline and traded below the $1.420 zone. The price is now trading below $1.420 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $1.4620 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below $1.4650. XRP Price Extends Losses XRP price failed to stay above $1.450 and extended its decline, like Bitcoin and Ethereum . The price declined below $1.420 and $1.4150 to enter a short-term bearish zone. The price even extended losses below $1.40. A low was formed at $1.3816, 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 $1.5120 swing high to the $1.3816 low. The price is now trading below $1.420 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.4320 level. The first major resistance is near the $1.450 level or the 50% Fib retracement level of the downward move from the $1.5120 swing high to the $1.3816 low. The main resistance could be $1.4620. There is also a key bearish trend line forming with resistance at $1.4620 on the hourly chart of the XRP/USD pair. A close above $1.4620 could send the price to $1.480. Source: XRPUSD on TradingView.com The next hurdle sits at $1.50. A clear move above the $1.50 resistance might send the price toward the $1.5320 resistance. Any more gains might send the price toward the $1.550 resistance. The next major hurdle for the bulls might be near $1.5650. Downside Continuation? If XRP fails to clear the $1.4620 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3980 level. The next major support is near the $1.3850 level. If there is a downside break and a close below the $1.3850 level, the price might continue to decline toward $1.3620. The next major support sits near the $1.350 zone, below which the price could continue lower toward $1.320. 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 – $1.3850 and $1.3620. Major Resistance Levels – $1.4500 and $1.4620.