XRP’s price extended its decline, dropping below $1.40. It’s now stabilizing after the losses, with resistance around $1.3980 and $1.4050. The price started another drop and fell under the $1.40 mark. Currently, it’s trading below $1.40 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 $1.3920. If the price stays below $1.40, it could keep moving down.
XRP Price Dips Further
XRP couldn’t hold above $1.4120 and continued its decline, similar to Bitcoin and Ethereum. It dropped below $1.4050 and $1.40, entering a short-term bearish zone. The price even fell under $1.3880, hitting a low of $1.380. It’s now consolidating these losses below the 23.6% Fibonacci retracement level of the drop from the $1.4570 swing high to the $1.3800 low. The price is still below $1.40 and the 100-hourly Simple Moving Average.
If there’s a recovery, the price might face resistance near $1.3920. The bearish trend line on the hourly chart also adds resistance at $1.3920. The first major resistance is around $1.40, with the main resistance at $1.4095. A close above $1.4095 could push the price to $1.4180 or the 50% Fibonacci retracement level of the drop from $1.4570 to $1.3800. The next hurdle is $1.4250. A clear break above $1.4250 might send the price toward $1.450 resistance, and further gains could target $1.4650.
Another Decline?
If XRP fails to break the $1.40 resistance zone, it could start a new decline. Initial support is near $1.380, with the next major support at $1.3680. A break and close below $1.3680 could lead to a drop toward $1.350. The next major support is around $1.3320, and below that, the price might continue lower to $1.320.
Technical Indicators
– Hourly MACD: The MACD for XRP/USD is gaining momentum in the bearish zone.
– Hourly RSI: The RSI for XRP/USD is now below the 50 level.
– Major Support Levels: $1.3800 and $1.3680.
– Major Resistance Levels: $1.3920 and $1.4000.
Frequently Asked Questions
Here is a list of FAQs about XRPs price dropping back to range support after a failed breakout covering beginner to advanced levels
BeginnerLevel Questions
Q Why did XRPs price drop back down
A It failed to break through a key resistance level When buyers couldnt push it higher sellers took over driving the price back down to a lower support level
Q What does range support mean
A Its a price floor where XRP has historically stopped falling and bounced back up Think of it as a safety net for the price
Q Is this a good time to buy XRP
A Not necessarily It could be a good entry point if the support holds but it could also break lower Its a risky spotwait for a clear bounce or confirmation before buying
Q Does this mean XRP is a bad investment
A No Price pullbacks are normal in crypto This just means the recent upward momentum stalled It doesnt change the longterm potential of the project
Q How low could XRP go from here
A If the support level breaks the next major support is usually lower Theres no guaranteed bottom but traders often look at previous lows or key moving averages
IntermediateLevel Questions
Q What exactly is a failed breakout
A Its when the price tries to move above a resistance level but quickly falls back inside the range This signals that buyers lacked the strength to hold the price higher often leading to a sharp selloff
Q Should I sell my XRP now to avoid further losses
A That depends on your strategy If youre a shortterm trader a failed breakout is a bearish signal and selling might protect profits If youre a longterm holder shortterm dips are often ignored
Q What technical indicators should I watch to see if support will hold
A Look at the Relative Strength Indexif its oversold a bounce is more likely Also watch trading volume increasing volume on the drop is bearish decreasing volume suggests the selloff is exhausting
Q Does this price action affect the XRP lawsuit news
A No