XRP Price Revisits $1.40 Level, Recovery Hopes Hang In Balance

XRP price revisits $1.40 level, sparking recovery hopes as it consolidates losses. The price faces hurdles near $1.420 and $1.4370.

XRP Price Analysis

XRP price extended losses and traded below $1.450, underperforming Bitcoin and Ethereum. The price declined below $1.4650 and $1.450 to enter a short-term bearish zone. A low was formed at $1.3917, and the price is now consolidating losses.

Technical Indicators

The Hourly MACD for XRP/USD is now gaining pace in the bearish zone, while the Hourly RSI is below the 50 level. Major support levels are at $1.4000 and $1.3840, with major resistance levels at $1.4200 and $1.4370.

Recovery Hopes

If there is a fresh recovery move, the price might face resistance near the $1.420 level. A close above $1.4650 could send the price to $1.4820, with the next hurdle at $1.4880. A clear move above the $1.4880 resistance might send the price toward the $1.50 resistance.

Bearish Trend Line

There is a bearish trend line forming with resistance at $1.420 on the hourly chart of the XRP/USD pair. If XRP fails to clear the $1.420 resistance zone, it could start a fresh decline.

Key Takeaways

• XRP price revisits $1.40 level, sparking recovery hopes.
• The price faces hurdles near $1.420 and $1.4370.
• A close above $1.4650 could send the price to $1.4820.
• If XRP fails to clear the $1.420 resistance zone, it could start a fresh decline.

Frequently Asked Questions

What is the current XRP price?

The current XRP price is trading below $1.350 and the 100-hourly Simple Moving Average.

What are the major support levels for XRP?

The major support levels for XRP are at $1.4000 and $1.3840.