XRP’s price has started to drop after failing to stay above the $1.1840 level, and it’s now showing bearish signs that could push it further below $1.10. The decline began when the price couldn’t hold above $1.1750. Currently, XRP is trading below $1.150 and its 100-hourly Simple Moving Average. On the hourly chart of the XRP/USD pair (data from Kraken), a bullish trend line with support at $1.1620 was broken. If the price stays below $1.150, it could keep falling.
XRP Price Dips Again
XRP struggled to stay above $1.1620 and started a fresh decline, similar to Bitcoin and Ethereum. It dropped below $1.160 and $1.1550, breaking the bullish trend line at $1.1620 on the hourly chart. The price even fell below the 38.2% Fibonacci retracement level of the upward move from the $1.050 swing low to the $1.1863 high. Now, it’s trading below $1.160 and the 100-hourly Simple Moving Average. If it tries to rise again, it might face resistance near $1.1350. The first major resistance is around $1.1420; above that, the price could climb to test $1.150. A clear break above $1.150 might push it toward $1.1580, and further gains could target $1.1650. The next big hurdle for buyers is near $1.1840.
More Downside?
If XRP can’t break through the $1.150 resistance, it could start another decline. Initial support on the downside is near $1.1020, which is the 61.8% Fibonacci retracement level of the move from $1.050 to $1.1863. The next major support is around $1.1072. If the price breaks and closes below $1.1072, it might continue falling toward $1.1020. The next key support is near $1.10, and below that, it could drop to $1.080. Further losses might test $1.050.
Technical Indicators
– Hourly MACD: The MACD for XRP/USD is gaining momentum in the bearish zone.
– Hourly RSI: The Relative Strength Index is now below 50.
– Major Support Levels: $1.1020 and $1.080.
– Major Resistance Levels: $1.1500 and $1.1840.
Frequently Asked Questions
Here is a list of FAQs about XRPs price instability and the potential for a new selloff written in a natural conversational tone with clear direct answers
BeginnerLevel Questions
1 Why is XRPs price so unstable
XRPs price jumps around because of three main things news about its legal battle with the SEC overall market trends and hype on social media Its a risky speculative asset
2 What does a new selloff could be coming mean
It means experts or traders think the price might drop sharply soon This could be because of negative news or because too many people bought when the price was high and are now panicking to sell
3 How is XRP different from Bitcoin
Bitcoin is seen as digital goldits slower and more stable XRP is built for fast cheap bank transfers But XRP is also more volatile and heavily affected by Ripple and its legal troubles
4 Should I buy XRP right now if Im new to crypto
Probably not if youre riskaverse If you do buy only invest money you can afford to lose The price could fall further especially with a potential selloff Many beginners get hurt by buying the dip too early
5 Is XRP going to zero
Unlikely but possible If Ripple loses its SEC case completely the price could crash hard However XRP still has realworld use and a strong community so it probably wont go to zero unless the whole crypto market collapses
IntermediateLevel Questions
6 What specific news causes XRPs price to swing so much
The biggest driver is the SEC vs Ripple lawsuit Any ruling causes big jumps or drops Other triggers exchange delistings partnership announcements and whale movements
7 How does the SEC lawsuit affect the price directly
When the court rules that XRP is