Price Stalls Once More: Bears Prepare for Next Leg

XRP price stalls once more, bears prepare for next leg lower as the cryptocurrency extends losses and trades below $1.340. The price faces hurdles near $1.3420 and $1.3440.

XRP Price Analysis

XRP price started another decline and traded below the $1.340 zone. The price is now trading below $1.3420 and the 100-hourly Simple Moving Average. There was a break below a rising channel with support at $1.3450 on the hourly chart of the XRP/USD pair.

Key Levels to Watch

• $1.3420: First major resistance
• $1.3480: 50% Fib retracement level of the downward move
• $1.3620: Main resistance

Bearish Outlook

If XRP fails to clear the $1.3480 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.320 level. The next major support is near the $1.30 level.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Key Takeaways

• XRP price stalls once more, facing hurdles near $1.3420 and $1.3440
• Bears prepare for next leg lower, with initial support near $1.320
• Technical indicators suggest a bearish outlook, with MACD gaining pace and RSI below 50
• XRP price may continue to decline if it stays below $1.350

Frequently Asked Questions

What is the current XRP price?

The current XRP price is trading below $1.340, with a low formed at $1.320.

What are the major resistance levels for XRP?

The major resistance levels for XRP are near $1.3420, $1.3480, and $1.3620.