XRP Price Drifts Lower, Downside Pressure
XRP price drifts lower, downside pressure starts to accelerate as it extends losses and trades below $1.30. The price is now consolidating losses and faces hurdles near $1.3240 and $1.3340.
XRP Price Analysis
XRP price started another decline and traded below the $1.3050 zone. The price is now trading below $1.3120 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.3340 on the hourly chart of the XRP/USD pair.
Technical Indicators
The Hourly MACD for XRP/USD is now gaining pace in the bearish zone. The Hourly RSI for XRP/USD is now below the 50 level.
Resistance and Support Levels
The first major resistance is near the $1.3240 level or the 50% Fib retracement level of the downward move from the $1.3678 swing high to the $1.2801 low. The main resistance could be $1.3340. If there is a fresh recovery move, the price might face resistance near the $1.320 level.
Key Levels to Watch
- $1.2801: Low was formed at this level
- $1.3050: Price declined below this level
- $1.3150: Price declined below this level
Downside Pressure
If XRP fails to clear the $1.3340 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.30 level. The next major support is near the $1.2880 level.
Potential Downside Targets
If there is a downside break and a close below the $1.2880 level, the price might continue to decline toward $1.280. The next major support sits near the $1.2750 zone, below which the price could continue lower toward $1.250.
Key Takeaways
- XRP price is facing resistance near $1.3240 and $1.3340
- The price is trading below $1.3120 and the 100-hourly Simple Moving Average
- If XRP fails to clear the $1.3340 resistance zone, it could start a fresh decline
- The next major support is near the $1.2880 level
Frequently Asked Questions
What is the current XRP price?
The current XRP price is trading below $1.30, with a low formed at $1.2801.
What are the major resistance levels for XRP?
The major resistance levels for XRP are near $1.3240 and $1.3340, with a bearish trend line forming with resistance at $1.3340 on the hourly chart of the XRP/USD pair.
