XRP’s price started to drop after failing to stay above the $1.3420 level, and it’s now showing signs of a bearish trend. It could fall further below $1.3150. The decline began when the price couldn’t hold above $1.3450. Right now, XRP is trading above $1.3150 and the 100-hour simple moving average. On the hourly chart of the XRP/USD pair (data from Kraken), a falling channel is forming with resistance at $1.3380. If the price stays below $1.3420, it might keep moving down.
XRP Price Drops Below Support
XRP struggled to stay above $1.3520 and started a fresh decline, similar to Bitcoin and Ethereum. It fell below $1.350 and $1.3450, then dropped under $1.3420. This move also broke below the 38.2% Fibonacci retracement level of the rise from the $1.2658 low to the $1.3642 high. Additionally, a falling channel with resistance at $1.3380 is forming on the hourly chart. The price is now above $1.3150 and the 100-hour moving average. If it tries to go up, it might face resistance near $1.3380. The first major resistance is around $1.3420. Above that, the price could rise and test $1.350. A clear break above $1.350 might push it toward $1.3580 and the trend line. Further gains could target $1.3650, with the next big hurdle near $1.3740.
More Downside?
If XRP can’t break through the $1.3380 resistance, it could start another decline. The first support is near $1.320, followed by $1.3150 and the 50% Fibonacci retracement level of the move from $1.2658 to $1.3642. If the price closes below $1.3150, it might drop further to $1.3120. The next major support is around $1.3050, and below that, it could fall to $1.2920. More losses might test $1.2880.
Technical Indicators
– Hourly MACD: The MACD for XRP/USD is gaining speed in bearish territory.
– Hourly RSI: The RSI is now below 50.
– Major Support Levels: $1.3200 and $1.3150.
– Major Resistance Levels: $1.3380 and $1.3500.
Frequently Asked Questions
Here is a list of FAQs about XRPs price slipping as bearish pressure builds written in a natural conversational tone with clear and direct answers
BeginnerLevel Questions
1 What does bearish pressure mean for XRP
It means that more people are selling XRP than buying it or that traders expect the price to go down soon Its like a heavy weight pushing the price lower
2 Why is XRPs price dropping right now
Its usually a mix of things fear in the overall crypto market bad news about regulations or big investors selling off their coins Sometimes its just a natural pullback after a price increase
3 Should I sell my XRP if the price is slipping
That depends on your plan If you need the money soon or cant handle the risk selling might make sense But if you believe in XRP longterm shortterm drops are normal Never invest more than you can afford to lose
4 How low could XRP go
Nobody knows for sure Analysts look at past support levels A common guess is around 040 or 030 but the price could also bounce back higher Always check current charts
5 Is this just a temporary dip or is it the start of a big crash
Its hard to tell A dip usually recovers quickly while a crash keeps falling Watch for news about the SEC lawsuit or Bitcoins priceif those get worse the drop could deepen
Intermediate Questions
6 What technical indicators show that bearish pressure is building
Traders look at things like the Relative Strength Index going below 30 the Moving Average Convergence Divergence crossing downward or lower highs on the price chart These suggest sellers are in control
7 How does the SEC lawsuit affect XRPs price
The lawsuit creates uncertainty If the SEC wins XRP might be considered a security which could hurt its use in the US Bad news from the case often triggers selling good news can spike the price