XRP price saw a decent rise above $1.920 but is now correcting lower and may struggle to remain positive. After testing the $1.880 zone, it is currently trading below $1.90 and the 100-hourly Simple Moving Average. On the hourly chart of XRP/USD, a declining channel or potential bullish flag pattern is forming, with resistance near $1.9250. A clear break above $1.950 could signal another upward move.
XRP failed to hold near the $1.950 resistance and began a downside correction, dipping below $1.920 and $1.90 to enter a consolidation phase. It even fell below the 23.6% Fibonacci retracement level of the recent rally from $1.770 to $1.9578. The price now faces initial resistance near $1.90, with the first major hurdle at $1.920. A break above that could test $1.950, and further gains might push the price toward $2.00, $2.050, and eventually $2.120.
If XRP fails to clear the $1.920 resistance, it could resume its decline. Initial support lies near $1.8650, which aligns with the 50% Fibonacci retracement level. The next major support is around $1.8420. A break and close below that level could lead to further losses toward $1.8150, with the next key support near $1.770. A drop below that might extend the decline toward $1.720.
Technical Indicators
– Hourly MACD: Gaining momentum in the bearish zone.
– Hourly RSI: Currently below 50.
– Major Support Levels: $1.8650 and $1.8420.
– Major Resistance Levels: $1.920 and $1.950.
Frequently Asked Questions
FAQs XRP Recent Price Drop Market Shift
BeginnerLevel Questions
1 What does it mean that XRP is losing its recent gains
It means the price of XRP has gone down from a higher point it reached in the recent past For example if it went from 075 to 060 it has lost some of the value it had gained
2 Why is the price of XRP dropping
Prices drop when more people are selling XRP than buying it This recent gradual drop suggests a growing number of sellers are deciding to take profits or exit their positions outweighing new buyers
3 What does sellers are taking control mean
It means the market sentiment is shifting Earlier buyers were pushing the price up Now sellers are becoming more dominant creating downward pressure on the price as they look to sell their XRP
4 Is this drop a sign that XRP is a bad investment
Not necessarily Price corrections and pullbacks are normal in all markets especially cryptocurrencies A drop after a gain doesnt define the longterm value it often reflects shortterm trader behavior
5 Should I sell my XRP now because its dropping
This is a personal financial decision Selling during a drop can lock in losses Many investors advise against making emotional decisions based on shortterm volatility Consider your original investment goals and risk tolerance
Intermediate Advanced Questions
6 What technical indicators might signal sellers are in control
Key indicators include
Declining Volume on Up Moves Rallies lack buying power
Lower Highs Lower Lows The chart pattern shows a consistent downtrend
Moving Average Crossovers The price falling below key moving averages
Increasing Selling Volume Higher volume on down days confirms seller dominance
7 Could this be a normal retracement versus a true reversal
Yes A retracement is a temporary pullback within a larger uptrend A reversal is a sustained change in trend direction The gradual drop description could fit either time and key support levels will tell
8 What are key support levels and why do they matter now
Support