XRP’s price has dropped further, falling below $1.30. It’s now stabilizing after the losses, with resistance around $1.30 and $1.340. The price started another decline and slipped under the $1.30 mark. Currently, it’s trading below $1.30 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 $1.340. If the price stays below $1.340, it could keep moving downward.
XRP Price Drops Below $1.30
XRP couldn’t hold above $1.340 and extended its decline, similar to Bitcoin and Ethereum. It fell below $1.3250 and $1.3120, entering a short-term bearish zone. The losses even pushed it under $1.30, hitting a low of $1.2677. Now, the price is consolidating well below the 23.6% Fibonacci retracement level of the drop from the $1.3638 high to the $1.2677 low. It’s trading below $1.30 and the 100-hourly Simple Moving Average.
If there’s a recovery, the price might face resistance near $1.290. The first major resistance is around $1.30. The main resistance could be $1.3150, which is the 50% Fibonacci retracement level of the drop from $1.3638 to $1.2677. A close above $1.3150 could push the price to $1.3275, with the next hurdle at $1.340. There’s also a bearish trend line with resistance at $1.340 on the hourly chart. A clear move above $1.340 might send the price toward $1.3550, and further gains could target $1.3750.
More Losses Ahead?
If XRP fails to break through the $1.3150 resistance, it could start a fresh decline. Initial support is near $1.2675, with the next major support around $1.2550. If the price breaks and closes below $1.2550, it might continue falling toward $1.2320. The next major support is near $1.220, and below that, the price could drop further to $1.20.
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: $1.2675 and $1.2550.
– Major Resistance Levels: $1.3150 and $1.3400.
Frequently Asked Questions
Here is a list of FAQs addressing the sharp drop in XRPs price due to increased selling pressure
BeginnerLevel Questions
1 Why did XRPs price just drop so fast
A sharp price drop usually means that a large number of people are selling their XRP at the same time and there arent enough buyers to match that selling pressure This can be triggered by bad news a marketwide crash or large holders selling off their coins
2 Is this a crash just for XRP or is the whole crypto market down
While XRP can move independently a sudden sharp drop is often part of a broader market downturn Check the prices of Bitcoin and Ethereumif they are also falling its a marketwide event If only XRP is dropping the cause is likely specific to Ripple or XRP news
3 Should I sell my XRP right now to stop the losses
That depends on your personal strategy Selling during a panic often locks in losses Its usually better to wait for the selling pressure to slow down and the market to stabilize before making a decision Never make a rushed decision based on fear
4 What does selling pressure mean in simple terms
Selling pressure is just a fancy way of saying there are more people trying to sell XRP than there are people trying to buy it When this happens sellers have to lower their prices to find a buyer which causes the price to drop quickly
5 How low could XRP go
No one can predict a bottom The price could drop 10 or 50 depending on how strong the selling pressure is and whether any positive news arrives to stop the fall Look for support levels as possible stopping points
AdvancedLevel Questions
6 What are common catalysts for a sudden selloff in XRP
Common triggers include negative court rulings in the SEC vs Ripple case large token unlocks from Ripples escrow a major exchange delisting XRP or a whale moving millions of XRP to an exchange wallet
7 How can I tell if this is a whale dump versus retail panic selling
Check onchain data If you see a single wallet moving a massive amount of X