XRP Price Turns Soft Signals Renewed Bearish Pressure
XRP Price Turns Soft Signals Renewed Bearish Pressure
XRP price turns soft, signals renewed bearish pressure as it extends losses below $1.40. The price is now consolidating losses but faces hurdles near $1.3750 and $1.40.
XRP Price Analysis
XRP price started another decline and traded below the $1.40 zone. The price is now trading below $1.3880 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.3750 on the hourly chart of the XRP/USD pair.
Key Resistance Levels
The first major resistance is near the $1.3850 level or the 50% Fib retracement level of the downward move from the $1.4372 swing high to the $1.3358 low. The main resistance could be $1.40. A close above $1.40 could send the price to $1.4120.
Bearish Trend Line
If XRP fails to clear the $1.40 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.350 level. The next major support is near the $1.3350 level. If there is a downside break and a close below the $1.3350 level, the price might continue to decline toward $1.3220.
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 extends losses below $1.40, facing hurdles near $1.3750 and $1.40.
- The price is trading below $1.3880 and the 100-hourly Simple Moving Average.
- A close above $1.40 could send the price to $1.4120.
- XRP price might continue to decline toward $1.3220 if it fails to clear the $1.40 resistance zone.
Frequently Asked Questions
What is the current XRP price?
The current XRP price is trading below $1.3880 and the 100-hourly Simple Moving Average.
What are the major resistance levels for XRP?
The major resistance levels for XRP are near $1.3850 and $1.40.
