NewsBTC
16 hour ago
0 0

BEARISH 📉 : XRP price drops 15%, struggles below $1.30 resistance

XRP has experienced a price decline, failing to maintain levels above $1.50 and extending its losses, similar to Bitcoin and Ethereum.

  • The price dropped below $1.450 and $1.40, entering a bearish trend.
  • A low of $1.1356 was recorded, with the price now consolidating.
  • The price is trading below $1.30 and below the 100-hourly Simple Moving Average.
  • A bearish trend line is forming resistance at $1.380 on the hourly XRP/USD chart.
  • Resistance levels are observed at $1.30 and $1.320; surpassing these could push the price to $1.380.
  • Further resistance lies at $1.40, with potential movement towards $1.420 and $1.450 if cleared.

XRP Price

Potential Downside

  • If unable to break $1.320 resistance, XRP might see another decline.
  • Support levels are near $1.240 and $1.2250.
  • A break below $1.2250 could lead to further declines to $1.20 or $1.1650.

Technical Indicators:

  • Hourly MACD: Losing pace in the bearish zone.
  • Hourly RSI: Below the 50 level.
  • Major Support Levels: $1.220 and $1.20.
  • Major Resistance Levels: $1.320 and $1.380.