BEARISH 📉 : XRP struggles below $1.40, risks further decline if resistance holds

XRP Price Overview:

  • XRP began a recovery wave above $1.3750 but struggled near $1.3980.
  • Currently trading below $1.40 and the 100-hourly SMA.
  • A bearish trend line is forming with resistance at $1.4100 on the XRP/USD hourly chart.
  • Potential for upward movement if price consolidates above $1.40.

XRP Price Challenges

The price remained supported above $1.3120, initiating recovery similar to Bitcoin and Ethereum. It moved above $1.3350 and $1.350, entering a short-term positive zone.

  • Overcame the 50% Fib retracement from $1.4244 high to $1.3125 low.
  • Struggled to maintain above $1.3950.
  • Resistance expected around $1.3980 and 76.4% Fib retracement level.

XRP Price

Key Resistance Levels

  • First major resistance at $1.4050; surpassing this could target $1.4120.
  • Further hurdles at $1.4250, potentially leading to $1.450 and $1.50.

Potential Decline

  • If unable to clear $1.40 resistance, XRP may decline.
  • Initial support at $1.3650, major support at $1.350.
  • Breaking below $1.350 could lead to declines toward $1.3320 or $1.3220.

Technical Indicators

  • Hourly MACD: Gaining pace in bullish zone.
  • Hourly RSI: Above 50 level.
  • Major Supports: $1.3650, $1.3500.
  • Major Resistances: $1.4000, $1.4120.