XRP’s price began to drop after hitting the $1.3740 level. It’s now stabilizing and could try to rise again if it stays above $1.320. The decline started when XRP couldn’t hold above $1.3620. Currently, it’s trading below $1.3580 and the 100-hour simple moving average. On the hourly chart of the XRP/USD pair (data from Kraken), a bearish trend line is forming with resistance at $1.360. If the price settles above $1.3620, it might start a fresh increase.
XRP Price Holds Support
XRP struggled to stay above $1.3720 and began a new decline, similar to Bitcoin and Ethereum. It fell below $1.3620 and $1.3600, then dropped under $1.3550 and even dipped below the 50% Fibonacci retracement level of the move from the $1.30 low to the $1.3740 high. A bearish trend line with resistance at $1.360 is also forming on the hourly chart. The price is now below $1.3520 and the 100-hour moving average. If it moves up again, it might face resistance near $1.350. The first major resistance is around $1.3560; above that, the price could rise and test $1.360. A clear break above $1.360 might push it toward $1.3720, and further gains could target $1.3750. The next big hurdle for buyers is near $1.380.
Downside Extension?
If XRP can’t break through the $1.360 resistance, it could drop again. Initial support is near $1.330, with the next major support at $1.3280 and the 61.8% Fibonacci retracement level of the move from $1.30 to $1.3740. If it breaks and closes below $1.3280, the price might fall to $1.3175. The next support is around $1.3120; below that, it could continue to $1.3050. Further losses might test $1.30.
Technical Indicators
– Hourly MACD: The MACD for XRP/USD is gaining momentum in bearish territory.
– Hourly RSI: The RSI is now below 50.
– Major Support Levels: $1.3280 and $1.3120.
– Major Resistance Levels: $1.3550 and $1.3750.
Frequently Asked Questions
Here is a list of FAQs about XRPs price weakness and a potential selloff written in a natural conversational tone
BeginnerLevel Questions
1 What does it mean that XRPs price is showing signs of weakness
It means the price is struggling to go up and is instead likely to drop You might see lower highs repeated dips below key price levels or lower trading volume
2 Why are traders preparing for another selloff
Because when a coin shows repeated weakness traders often expect a bigger crash Theyre getting ready by selling now or buying puts to protect themselves
3 Is XRP going to zero
Very unlikely XRP has survived many selloffs before Weakness usually means a shortterm drop not that the entire project is failing Its more about market mood than the tech
4 Should I sell my XRP right now
That depends on your risk tolerance If youre nervous and cant handle a sharp drop selling some to lock in profit or cut losses is reasonable If you believe in longterm value many people choose to hold through the dip
5 What causes XRP to suddenly look weak
Common reasons include bad news a broader crypto market crash large holders selling their XRP or technical chart patterns that suggest a downward move
Intermediate Advanced Questions
6 What specific chart patterns signal a potential selloff for XRP
Traders look for lower highs a break below a key support level or a death cross These suggest sellers are in control
7 How do traders prepare for a selloff
They might
Reduce position size Sell a portion of their XRP to have cash ready
Use stoploss orders Set an automatic sell order at a price just below current value to limit losses
Buy put options Bet on the price falling