XRP price began to recover above $1.38 but faced resistance near $1.3980. It is now consolidating and could attempt another move above $1.40. Currently, the price is trading below $1.40 and the 100-hour Simple Moving Average. A bearish trend line is forming with resistance at $1.4100 on the hourly XRP/USD chart. A sustained break above $1.40 could support further upward movement.
XRP found support above $1.3120 and started to recover, similar to Bitcoin and Ethereum. The price climbed past $1.3350 and $1.350, entering a short-term positive zone, and even surpassed the 50% Fibonacci retracement level of the decline from the $1.4244 high to the $1.3125 low. However, buyers struggled to maintain momentum above $1.3950.
If the price attempts another rise, it may encounter resistance near $1.3980, which aligns with the 76.4% Fibonacci retracement level. The first major resistance is around $1.4050. A close above this level could push the price toward $1.4120, with further hurdles at $1.4250 and potentially $1.450. A decisive break above $1.4250 might open the path toward $1.50.
On the downside, if XRP fails to overcome the $1.40 resistance, it could see a fresh decline. Initial support lies near $1.3650, followed by $1.350. A break and close below $1.350 could lead to further losses toward $1.3320, with major support near $1.3220. A drop below that level might test $1.3120.
Technical Indicators
– Hourly MACD: Gaining momentum in bullish territory.
– Hourly RSI: Above 50.
– Major Support Levels: $1.3650 and $1.3500.
– Major Resistance Levels: $1.4000 and $1.4120.
Frequently Asked Questions
FAQs XRP Price Rebound Resistance Level
Beginner Questions
1 What does it mean that XRPs price rebound has hit a wall
It means the price was rising after a drop but has now stopped going up at a specific price point unable to break past it This wall is called a resistance level
2 What is a key resistance level
A resistance level is a specific price point where selling pressure has historically been strong enough to prevent the price from rising further Its a level where many traders previously sold and they may be willing to sell again if the price returns to that point
3 Why are sellers looking to push the price lower again
Traders who believe the price cant break above the resistance may decide to sell their XRP to take profits or avoid potential losses from a new price drop This increased selling creates downward pressure
4 Is this a bad sign for XRP
Not necessarily on its own Hitting resistance is a normal part of market cycles However if the price repeatedly fails to break through and starts falling significantly it could indicate a trend reversal or a period of consolidation
Intermediate Advanced Questions
5 How do traders identify these key resistance levels
They look at historical price charts identifying peaks where the price has reversed downward multiple times They also use technical indicators like moving averages or Fibonacci retracement levels which often act as psychological barriers
6 What needs to happen for XRP to break through this resistance
It typically requires a strong surge in buying volume often driven by positive news a broader crypto market rally or a significant shift in market sentiment A sustained break above the level with high volume is key
7 What is a retest of resistance and why is it important
If XRP breaks above resistance but then falls back to touch that same level from above thats a retest If the old resistance now acts as support it confirms the breakout as strong If it breaks back below it was a false breakout
8 What are common trading strategies when price hits resistance