XRP Price Turns Soft, Red Signals Renewed Bearish Pressure

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 $1.3750 and $1.40. XRP price started another decline and traded below the $1.40 zone. The price is now trading below $1.3880 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.3750 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 $1.4120 and extended its decline, like Bitcoin and Ethereum . The price declined below $1.40 and $1.3880 to enter a short-term bearish zone. The price even extended losses below $1.3750. A low was formed at $1.3358, and the price is now consolidating losses below the 38.2% Fib retracement level of the downward move from the $1.4372 swing high to the $1.3358 low. The price is now trading below $1.40 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.3750 level. There is also a bearish trend line forming with resistance at $1.3750 on the hourly chart of the XRP/USD pair. The first major resistance is near the $1.3850 level or the 50% Fib retracement level of the downward move from the $1.4372 swing high to the $1.3358 low. The main resistance could be $1.40. Source: XRPUSD on TradingView.com A close above $1.40 could send the price to $1.4120. The next hurdle sits at $1.4380. A clear move above the $1.4380 resistance might send the price toward the $1.450 resistance. Any more gains might send the price toward the $1.4650 resistance. The next major hurdle for the bulls might be near $1.50. Another Decline? If XRP fails to clear the $1.40 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.350 level. The next major support is near the $1.3350 level. If there is a downside break and a close below the $1.3350 level, the price might continue to decline toward $1.3220. The next major support sits near the $1.3150 zone, below which the price could continue lower toward $1.30. 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 – $1.3500 and $1.3350. Major Resistance Levels – $1.3850 and $1.4000.