XRP’s price extended its decline, dropping below $1.40. It is now consolidating these losses, with resistance levels around $1.3650 and $1.3940. The price started another downturn and fell under the $1.40 zone. Currently, it is trading below $1.3880 and the 100-hourly Simple Moving Average. On the hourly chart of the XRP/USD pair (data from Kraken), a bearish trend line is forming with resistance at $1.3720. If the price stays below $1.40, it could continue to drop.
XRP Price Dips Below $1.40
XRP couldn’t hold above $1.4150 and extended its decline, similar to Bitcoin and Ethereum. It fell below $1.4050 and $1.40, entering a short-term bearish zone. The price even dropped below $1.380, hitting a low of $1.3464. It is now consolidating these losses, well below the 23.6% Fibonacci retracement level of the move from the $1.5495 high to the $1.3464 low. The price is trading below $1.3880 and the 100-hourly Simple Moving Average. If there’s a recovery, it might face resistance near $1.3650. A bearish trend line with resistance at $1.3720 is also forming on the hourly chart. The first major resistance is around $1.380, with the main resistance at $1.3940. A close above $1.3940 could push the price to $1.40. The next hurdle is $1.4250, or the 50% Fibonacci retracement level of the same downward move. A clear break above $1.4250 could lead to $1.440, and further gains might target $1.450.
More Losses?
If XRP fails to break the $1.40 resistance, it could start a new decline. Initial support is near $1.3465, with the next major support at $1.3350. A break and close below $1.3350 could lead to further declines toward $1.3220. The next major support is around $1.320, and below that, the price could drop to $1.3120.
Technical Indicators
– Hourly MACD: The MACD for XRP/USD is gaining momentum in the bearish zone.
– Hourly RSI: The RSI is now below the 50 level.
– Major Support Levels: $1.3465 and $1.3350.
– Major Resistance Levels: $1.3720 and $1.3940.
Frequently Asked Questions
Here is a list of FAQs about XRP facing renewed selling pressure and traders bracing for more declines
BeginnerLevel Questions
1 What does it mean that XRP is facing pressure
It means the price is going down and there are more sellers than buyers This creates downward momentum
2 Why are traders preparing for further declines
They see signs that the price might keep falling like breaking below key support levels or negative news They are planning to either sell now or wait to buy at an even lower price
3 Is this a crash or just a normal dip
Its too early to call it a crash It could be a temporary dip but the current pressure suggests it could become a deeper correction if the selling continues
4 Should I sell my XRP right now
No one can tell you what to do If youre worried about losing more money some traders sell to cut losses If you believe in the longterm you might hold Its a personal risk decision
5 What is support and why does it matter
Support is a price level where XRP usually stops falling because buyers step in If that level breaks the price can drop faster which is why traders are watching it closely
AdvancedLevel Questions
6 What specific technical indicators are traders using to predict more declines
They look at the Relative Strength Index Moving Averages and volume spikes A break below a major moving average often signals further downside
7 How does the SEC lawsuit or regulatory news affect this pressure
Any negative legal update can trigger selloffs Uncertainty about XRPs status as a security often adds to the selling pressure
8 What is liquidity grabbing in this context
Its when big traders push the price down to hit stoploss orders placed by regular traders This causes a sudden drop and then they buy back the coins cheaper This can accelerate the decline
9 Are there any buy the dip opportunities here or is it too risky
It depends on your risk tolerance If