XRP Price Revisits $1.40 Level, Recovery Hopes Hang In Balance

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 $1.450. The price is now consolidating losses and faces hurdles near $1.420 and $1.4370. XRP price started another decline and traded below the $1.3550 zone. The price is now trading below $1.350 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.420 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below $1.450. XRP Price Dips Again XRP price failed to stay above $1.4850 and extended its decline, underperforming Bitcoin and Ethereum . The price declined below $1.4650 and $1.450 to enter a short-term bearish zone. The price even extended losses below $1.4250. A low was formed at $1.3917, and the price is now consolidating losses. There was a minor upward move toward the 23.6% Fib retracement level of the downward move from the $1.510 swing high to the $1.3917 low. The price is now trading below $1.4250 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.420 level. There is also a bearish trend line forming with resistance at $1.420 on the hourly chart of the XRP/USD pair. Source: XRPUSD on TradingView.com The first major resistance is near the $1.4370 level or the 38.2% Fib retracement level of the downward move from the $1.510 swing high to the $1.3917 low. The main resistance could be $1.4650. A close above $1.4650 could send the price to $1.4820. The next hurdle sits at $1.4880. A clear move above the $1.4880 resistance might send the price toward the $1.50 resistance. Any more gains might send the price toward the $1.5150 resistance. More Losses? If XRP fails to clear the $1.420 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.40 level. The next major support is near the $1.3840 level. If there is a downside break and a close below the $1.3840 level, the price might continue to decline toward $1.3650. The next major support sits near the $1.350 zone, below which the price could continue lower toward $1.3220. 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 – $1.4000 and $1.3840. Major Resistance Levels – $1.4200 and $1.4370.