XRP extended its decline, falling below $1.95. The price is now consolidating and could drop further if it remains under $2.00. Currently, XRP is trading below $1.9350 and the 100-hour Simple Moving Average. A bearish trend line is forming with resistance at $2.00 on the hourly chart. As long as the price stays below $2.00, the downward move may continue.
After failing to hold above $2.05, XRP began a fresh decline, similar to Bitcoin and Ethereum. It dropped below $2.00 and $1.95, entering a short-term bearish zone, and even briefly spiked below $1.880. A low was established at $1.8681 before the price started to consolidate. There was a minor recovery above $1.90, which tested the 23.6% Fibonacci retracement level of the drop from the $2.028 high to the $1.8681 low, but selling pressure persisted.
XRP is now trading below $1.920 and the 100-hour SMA. If the price attempts to move higher, it could face resistance near $1.95, which aligns with the 50% Fibonacci retracement level of the recent decline. The first major resistance is near the $2.00 level and the trend line. A sustained close above $2.00 could push the price toward $2.05, with further hurdles at $2.10, $2.12, $2.15, and $2.20.
On the downside, if XRP fails to break above the $1.95 resistance, it could resume its decline. Initial support is near $1.880, followed by $1.850. A break and close below $1.850 might lead to further losses toward $1.820. The next major support is near $1.80, below which the price could test $1.7650.
Technical Indicators:
– Hourly MACD: Gaining momentum in the bearish zone.
– Hourly RSI: Below the 50 level.
– Major Support Levels: $1.880 and $1.850.
– Major Resistance Levels: $1.950 and $2.00.
Frequently Asked Questions
FAQs XRP Price Struggles Bearish Momentum
BeginnerLevel Questions
1 What does bearish momentum mean for XRP
It means the overall market sentiment is negative and the price trend is moving downward More people are selling than buying which pushes the price lower
2 Why is XRPs price dropping
XRPs price is influenced by several factors including overall crypto market trends negative news or legal developments reduced investor confidence and broader economic conditions
3 Is XRP a bad investment because its price is struggling
Not necessarily All cryptocurrencies are highly volatile Price struggles are a common part of market cycles It indicates higher risk in the short term but longterm potential depends on adoption legal clarity and utility
4 What is support and resistance in trading
Support A price level where buying interest is historically strong enough to prevent the price from falling further
Resistance A price level where selling pressure is historically strong enough to prevent the price from rising further During bearish trends XRP often struggles to break above resistance levels
5 Should I buy more XRP while the price is low
This is a personal financial decision Some investors see low prices as a buying opportunity but it carries risk if the price continues to fall Never invest more than you can afford to lose
Advanced Practical Questions
6 How does the SEC lawsuit specifically impact XRPs price
The lawsuit creates massive uncertainty If Ripple loses XRP could be deemed a security in the US severely restricting its use and trading on major exchanges Positive rulings can cause sharp rallies while negative developments trigger selloffs
7 What onchain metrics should I watch during bearish periods
Key metrics include
Trading Volume Declining volume during a downtrend can signal weakening selling pressure or a lack of interest
Active Addresses A drop in unique addresses transacting can indicate declining network usage
Exchange Flows Large inflows of XRP to exchanges can signal investors preparing to sell
8 Whats the difference between a marketwide crypto crash and XRPspecific weakness
A marketwide crash drag