Price Drops Again: XRP Downtrend Resumes
XRP price drops again, resuming its downtrend after a brief pause, with the price extending losses and trading below $1.3250. The primary keyword price drops again downtrend resumes is a clear indication of the current market trend.
XRP Price Analysis
The price is now consolidating losses and faces hurdles near $1.3250 and $1.3450. XRP price started another decline and traded below the $1.320 zone. The price is now trading below $1.3220 and the 100-hourly Simple Moving Average.
Key Statistics
- The price declined below $1.3250 and $1.3220 to enter a short-term bearish zone.
- A low was formed at $1.3072, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $1.3678 swing high to the $1.3072 low.
XRP Price Forecast
If there is a fresh recovery move, the price might face resistance near the $1.3250 level. The first major resistance is near the $1.3450 level or the 61.8% Fib retracement level of the downward move from the $1.3678 swing high to the $1.3072 low.
Resistance Levels
- The main resistance could be $1.3650.
- A close above $1.3650 could send the price to $1.3820.
Key Takeaways
- XRP price is currently trading below $1.3220 and the 100-hourly Simple Moving Average.
- The price faces hurdles near $1.3250 and $1.3450.
- A close above $1.3650 could send the price to $1.3820.
- The next major hurdle for the bulls might be near $1.450.
Frequently Asked Questions
What is the current XRP price trend?
The current XRP price trend is bearish, with the price extending losses and trading below $1.3250.
What are the major resistance levels for XRP?
The major resistance levels for XRP are $1.3250, $1.3450, and $1.3650.
