BEARISH 📉 : XRP Price Drops Below $1.80 Amid Continued Downtrend

XRP Price Analysis

  • XRP price fell below $1.80 and is consolidating losses.
  • Currently trades below $1.80 and the 100-hourly Simple Moving Average.
  • A bearish trend line with resistance at $1.8050 is forming on the hourly chart of XRP/USD.
  • The price might decline further if it remains under the $1.8250 mark.

Current Market Situation

  • XRP failed to maintain above $1.90, falling into a short-term bearish zone.
  • It briefly dropped below $1.750, hitting a low of $1.710 before starting to consolidate.
  • A recovery wave was noted above $1.740, approaching the 23.6% Fib retracement level from $1.938 to $1.710.
  • Resistance levels include $1.7650, $1.80, and $1.8050.

XRP Price

Potential Movements

  • If XRP surpasses $1.80, it may target $1.8250, $1.850, and potentially $1.880.
  • A failure to clear $1.80 could see support tested at $1.740 and $1.720.
  • A break below $1.720 might lead to declines toward $1.70 and possibly $1.650.

Technical Indicators

  • Hourly MACD is gaining momentum in the bearish zone.
  • Hourly RSI is below the 50 level.
  • Major Support Levels: $1.740, $1.720
  • Major Resistance Levels: $1.7650, $1.80