XRP’s price has started to drop below the $1.150 level and is showing bearish signs, with a potential further decline under $1.080. The downturn began after it couldn’t hold above $1.1550. Now, XRP is trading below $1.1350 and its 100-hourly Simple Moving Average. On the hourly chart of the XRP/USD pair (data from Kraken), a bearish trend line is forming with resistance at $1.120. If the price stays under $1.1350, it could keep falling.
XRP Price Turns Red
XRP struggled to stay above $1.1550 and started a fresh decline, similar to Bitcoin and Ethereum. It dropped below $1.150 and $1.1420, even falling under the 50% Fibonacci retracement level of the move from the $1.050 low to the $1.1862 high. However, buyers are currently defending the $1.10 support zone. The price is now below $1.1350 and the 100-hourly Simple Moving Average. If it tries to rise, it may face resistance near $1.120. The first major resistance is around $1.1350; breaking above that could push it to test $1.1420. A clear move past $1.1420 might lead to $1.1550, and further gains could target $1.1650. The next big hurdle for buyers is near $1.1840.
Downside Continuation?
If XRP can’t break above the $1.1350 resistance, it could start another decline. Initial support is near $1.10, with the next major support at $1.080 or the 76.4% Fibonacci retracement level of the move from $1.050 to $1.1862. If it breaks and closes below $1.080, the price might continue falling toward $1.0650. The next key support is around $1.050; below that, it could drop to $1.020. Further losses might test the $1.00 level.
Technical Indicators
– Hourly MACD: The MACD for XRP/USD is losing momentum in bearish territory.
– Hourly RSI: The Relative Strength Index is now below 50.
– Major Support Levels: $1.1000 and $1.080.
– Major Resistance Levels: $1.1200 and $1.1350.
Frequently Asked Questions
Here is a list of FAQs addressing the concerns about XRPs ongoing price risks and potential for further declines
BeginnerLevel Questions
1 Why are people saying XRPs price problems arent over
People are worried because XRP has been stuck in a downtrend or low range for a while The main risks include the longrunning SEC lawsuit low trading volume and the fact that the broader crypto market is also struggling If these issues dont improve the price could drop further
2 What is the biggest risk for XRP right now
The biggest risk is the SEC lawsuit Even though XRP won a partial victory in 2023 the case isnt fully over If the SEC appeals or wins stricter penalties it could scare off investors and push the price down
3 Can XRP still go to zero
Its very unlikely to go to zero but it could lose a lot of value If the lawsuit ends badly or if Ripple the company fails XRP could drop to very low levels But as long as people use it for payments it probably wont become worthless
4 Is XRP a good investment right now
That depends on your risk tolerance Right now its a highrisk bet The potential for a big comeback exists if Ripple wins the lawsuit completely but the risks of further drops are real Most experts suggest waiting for more clarity before buying
5 What happens if the SEC wins the lawsuit
If the SEC wins a final ruling that XRP is a security it could be delisted from major exchanges in the US That would cause a huge selloff sending the price down significantly
AdvancedLevel Questions
6 How does low liquidity make XRPs price more vulnerable
Low liquidity means fewer buyers and sellers When a big sell order hits the market the price can drop sharply because there arent enough buyers to absorb it This makes XRP more prone to sudden crashes especially during bad news
7 What is the death cross pattern and does it apply to XRP now
A death cross happens when a shortterm moving average crosses below a longterm one like the 200