XRP failed to break above $1.4650 and has since moved lower. The price is now correcting its recent gains and could face difficulty staying above $1.320. Currently, XRP is trading below $1.380 and the 100-hour Simple Moving Average. On the hourly chart, a declining channel is taking shape with resistance near $1.3880. For the price to attempt another rise, it will need to hold above the $1.30 support level.
After being unable to sustain above $1.4650, XRP followed Bitcoin and Ethereum into a correction, dropping below $1.420 and $1.40. The decline even tested the 50% Fibonacci retracement level of the rally from the $1.1356 low to the $1.5435 high. Buyers are currently stepping in around $1.340. With the price below $1.3850 and the 100-hour SMA, any recovery attempt may first encounter resistance at the channel trendline near $1.3880. The next key resistance is at $1.40, followed by $1.420. A break above $1.420 could open the path toward $1.450 and then $1.4820, with $1.50 being a major hurdle.
If XRP fails to overcome the $1.40 resistance, it could resume its decline. Initial support sits at $1.340, with more significant support near $1.30, aligning with the 61.8% Fibonacci retracement level at $1.2920. A close below $1.2920 might lead to further losses toward $1.2650, with the next major support zone around $1.250. A break below that could see the price slide toward $1.2250.
Technical Indicators
– Hourly MACD: Gaining momentum in bearish territory.
– Hourly RSI: Currently below the 50 level.
– Major Support Levels: $1.340 and $1.2920.
– Major Resistance Levels: $1.3880 and $1.40.
Frequently Asked Questions
Of course Here is a list of FAQs about XRP Price Hangs in the Balance Amid Ongoing Downside Risk designed to be clear and helpful for a range of readers
Beginner Definition Questions
1 What does XRP price hangs in the balance mean
It means the price of XRP is at a critical point where it could move significantly in either direction but the current pressure and risks are leaning toward a potential drop
2 What is downside risk in simple terms
Downside risk is the potential for an assets price to decrease When analysts highlight it theyre warning that there are more factors that could push the price down than up in the near term
3 Why is XRPs price so uncertain right now
XRPs price is heavily influenced by the ongoing legal case between Ripple and the US Securities and Exchange Commission The outcome and any new developments create major uncertainty
4 Is XRP a good investment if theres downside risk
All investments carry risk XRP currently has high uncertainty due to its legal situation It could be seen as a higherrisk potentially higherreward asset and is not suitable for everyone especially those with a low risk tolerance
Intermediate Market Analysis Questions
5 What are the main factors creating this downside risk for XRP
The SEC Lawsuit Any negative rulings or delays can cause selloffs
Overall Crypto Market Sentiment If Bitcoin and the broader market are falling XRP usually follows
Macroeconomic Factors High interest rates and inflation can reduce risk appetite for assets like crypto
Key Price Levels If XRP breaks below important historical support levels it can trigger more technical selling
6 Whats a support level and why is it important now
A support level is a price point where an asset has historically stopped falling and bounced back If XRP breaks decisively below a major support level traders see it as a sign of weakness which can lead to further declines
7 Could there be a positive outcome that reverses the risk
Yes A final resolution in Ripples favor a clear regulatory framework for crypto in the US or a major