BEARISH 📉 : XRP price struggles to break $1.42 resistance level

XRP's price is experiencing a recovery wave, initially moving above $1.3820 but encountering resistance near $1.420. The current trading level is below $1.3880 and under the 100-hourly SMA.

Recovery initiated above the $1.3820 zone.
Price break observed above a bearish trend line at $1.360 on the XRP/USD hourly chart.
Potential for upward movement if settling above $1.40.

Resistance Levels

XRP showed support above $1.30, with gains past $1.3250 and $1.350. Despite breaking the 50% Fib retracement level from $1.4936 to $1.2702, it struggled to maintain above $1.40.

First major resistance at $1.4080, aligning with the 61.8% Fib retracement level.
A close above $1.4080 could lead to $1.420 and further resistance at $1.440.
Surpassing $1.440 may direct the price towards $1.4550 and potentially $1.50.

Possible Decline

If unable to overcome the $1.4080 resistance, XRP might decline. Initial support is around $1.340, with significant support near $1.3220.

A break below $1.3220 could push the price to $1.30, with further support at $1.2880 and $1.2720.

Technical Indicators:

Hourly MACD: Losing momentum in the bullish zone.
Hourly RSI: Above 50.
Major Support Levels: $1.340, $1.3220.
Major Resistance Levels: $1.3820, $1.4080.