XRP Price Tests Crucial Floor, Bearish Bias Strengthens Further

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 $1.350. The price is now consolidating losses but faces hurdles near $1.3650 and $1.3760. XRP price started another decline and traded below the $1.3450 zone. The price is now trading below $1.350 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $1.4250 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 Extends Losses XRP price failed to stay above $1.3880 and extended its decline, like Bitcoin and Ethereum . The price declined below $1.3750 and $1.3650 to enter a short-term bearish zone. The price even extended losses below $1.3450. A low was formed at $1.3275, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $1.4244 swing high to the $1.3275 low. The price is now trading below $1.350 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.3650 level. The first major resistance is near the $1.3750 level or the 50% Fib retracement level of the downward move from the $1.4244 swing high to the $1.3275 low. The main resistance could be $1.40. A close above $1.40 could send the price to $1.4250. There is also a key bearish trend line forming with resistance at $1.4250 on the hourly chart of the XRP/USD pair. Source: XRPUSD on TradingView.com The next hurdle sits at $1.4450. A clear move above the $1.4450 resistance might send the price toward the $1.4840 resistance. Any more gains might send the price toward the $1.50 resistance. The next major hurdle for the bulls might be near $1.5150. Downside Break? If XRP fails to clear the $1.3750 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3275 level. The next major support is near the $1.3200 level. If there is a downside break and a close below the $1.3200 level, the price might continue to decline toward $1.3050. The next major support sits near the $1.30 zone, below which the price could continue lower toward $1.2840. 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 – $1.3275 and $1.3200. Major Resistance Levels – $1.3650 and $1.3750.