XRP’s price was unable to sustain momentum above $1.92 and has since pulled back. It is now facing difficulty and encountering resistance near $1.82. The price began a new drop below the $1.85 level and is currently trading under both $1.85 and the 100-hour Simple Moving Average. A bearish trend line is taking shape with resistance at $1.92 on the hourly XRP/USD chart. The pair may extend its decline if it breaks and holds below $1.78.
XRP Price Drops to New Weekly Lows
XRP tried to recover above $1.90 but couldn’t maintain the upward move, similar to Bitcoin and Ethereum. It then started falling again, dropping below $1.88 and $1.85, and even broke below the $1.82 support. A low was established at $1.7707, and the price is now showing bearish signals below the 23.6% Fibonacci retracement level of the drop from the $1.9331 high to the $1.7707 low.
On the upside, if there’s a new attempt to move higher, the price could meet resistance near $1.81. The first major resistance is around $1.8520, which aligns with the 50% Fibonacci retracement level of the recent decline. A sustained move above $1.8520 could push the price toward $1.88. The next significant barrier is at $1.92, near the trend line. A clear break above $1.92 might lead to a test of the $1.9650 resistance, with further gains potentially targeting $2.00. The next major challenge for buyers could be around $2.05.
Potential for Further Decline
If XRP fails to overcome the $1.8520 resistance, it could start another downward move. Initial support is near $1.78, followed by a more important level at $1.7620. A break and close below $1.7620 could lead to a continued drop toward $1.72. The next major support is around $1.70, and if that fails, the price might fall further toward $1.68.
Technical Indicators
– Hourly MACD: The MACD for XRP/USD is accelerating in bearish territory.
– Hourly RSI: The RSI is currently below 50.
– Major Support Levels: $1.780 and $1.7620.
– Major Resistance Levels: $1.8520 and $1.920.
Frequently Asked Questions
FAQs XRP Price Dip Recurring Market Patterns
BeginnerLevel Questions
1 Why did XRPs price drop again
XRPs price like most cryptocurrencies is influenced by overall market sentiment A dip often occurs due to broader market selloffs negative news impacting crypto or profittaking by traders after a price increase
2 What does a recurring market pattern mean
It means that similar price movements have happened before in a recognizable way Analysts look at historical charts to identify these common rhythms though past performance doesnt guarantee future results
3 Is this a good time to buy XRP
This depends entirely on your strategy and risk tolerance Some investors see dips as buying opportunities but prices can always fall further Never invest more than you can afford to lose
4 Should I be worried if Im holding XRP
Shortterm price volatility is normal in crypto Worry should be tied to your investment goals If you believe in the longterm potential of XRP and its utility a dip may be less concerning than if you were counting on shortterm gains
5 What causes these patterns to happen
Patterns emerge from collective human behaviorlike fear and greed They are also shaped by major events like regulatory news technological updates or largescale economic factors
AdvancedLevel Questions
6 Is this current dip part of a specific chart pattern
It could be Without analyzing the specific chart common patterns in downtrends include bear flags or simple retracements Confirmation requires looking at trading volume and key support levels
7 How does XRPs correlation with Bitcoin affect these dips
XRP has a high correlation with Bitcoin When BTC dips sharply it often drags down the entire crypto market including XRP due to its market dominance This is a major driver of recurring synchronized dips
8 Are there onchain metrics that can explain or predict these dips
Advanced analysts look at metrics like exchange inflows wallet activity and