XRP Price Drifts Lower, Downside Pressure Starts to Accelerate

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 and faces hurdles near $1.3240 and $1.3340. XRP price started another decline and traded below the $1.3050 zone. The price is now trading below $1.3120 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.3340 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below $1.3340. XRP Price Dips Further XRP price failed to stay above $1.320 and extended its decline, underperforming Bitcoin and Ethereum . The price declined below $1.3150 and $1.3050 to enter a short-term bearish zone. The price even extended losses below $1.30. A low was formed at $1.2801, 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 $1.3678 swing high to the $1.2801 low. The price is now trading below $1.3120 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.320 level. The first major resistance is near the $1.3240 level or the 50% Fib retracement level of the downward move from the $1.3678 swing high to the $1.2801 low. The main resistance could be $1.3340. There is also a bearish trend line forming with resistance at $1.3340 on the hourly chart of the XRP/USD pair. Source: XRPUSD on TradingView.com A close above $1.3340 could send the price to $1.350. The next hurdle sits at $1.3650. A clear move above the $1.3650 resistance might send the price toward the $1.380 resistance. Any more gains might send the price toward the $1.40 resistance. The next major hurdle for the bulls might be near $1.4120. More Losses? If XRP fails to clear the $1.3340 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.30 level. The next major support is near the $1.2880 level. If there is a downside break and a close below the $1.2880 level, the price might continue to decline toward $1.280. The next major support sits near the $1.2750 zone, below which the price could continue lower toward $1.250. 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 – $1.3000 and $1.2880. Major Resistance Levels – $1.3240 and $1.3340.