XRP’s price dropped further, falling below $1.380. It’s now stabilizing after the losses, with resistance around $1.3840 and $1.40. The price started another decline and slipped under the $1.3840 level. Currently, it’s trading below $1.380 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 $1.3840. If the price stays below $1.3840, it could keep moving down.
XRP Price Dips Again
XRP couldn’t hold above $1.40 and extended its decline, similar to Bitcoin and Ethereum. It dropped below $1.3880 and $1.3840, entering a short-term bearish zone. The losses even pushed it under $1.350, hitting a low of $1.3460. Now, the price is consolidating those losses. There was a small recovery above the 50% Fibonacci retracement level of the drop from the $1.4061 high to the $1.3460 low. The price is still below $1.380 and the 100-hourly Simple Moving Average.
If it tries to recover, it might face resistance near $1.3830 and the 61.8% Fibonacci retracement level of that same drop. The bearish trend line at $1.3840 on the hourly chart adds more resistance. The first major resistance is around $1.3920, with the main one at $1.40. A close above $1.40 could push the price to $1.420, and the next hurdle is $1.4250. A clear break above $1.4250 might lead to $1.450, and further gains could target $1.4650.
Another Decline?
If XRP can’t break through the $1.3840 resistance, it might start a fresh drop. Initial support is near $1.3680, followed by $1.3620. If it breaks below $1.350 and closes there, the price could fall toward $1.3450. The next major support is around $1.3320, and below that, it might head to $1.320.
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.
Key Levels
– Support: $1.3500 and $1.3450
– Resistance: $1.3840 and $1.4000
Frequently Asked Questions
Here is a list of FAQs addressing the recent drop in XRPs price and the strain on bullish investors
BeginnerLevel Questions
1 Why did XRPs price drop again Is something wrong with the project
Theres nothing new wrong with XRP itself The drop is part of a broader market trend where most cryptocurrencies are falling due to macroeconomic concerns Shortterm price moves often dont reflect the projects health
2 I bought XRP a few weeks ago and its down Should I sell now to stop the losses
This is a personal decision but panic selling during a downturn often locks in losses Consider your original investment thesisif you believed in XRP for the long term a shortterm dip is normal If you need the money soon selling might be prudent but dont make the choice based on fear alone
3 How much lower could XRP go Is there a bottom price
No one can predict exact bottoms Analysts look at support levels and market sentiment However crypto is volatileprices can break support or bounce unexpectedly Focus on risk management not guessing the bottom
4 Is this the end of XRP Should I just give up on it
Not likely XRP has survived multiple major crashes and is still a top10 crypto by market cap A few weeks or months of losses dont mean the project is dead Many longterm holders view these dips as buying opportunities but you should only invest what you can afford to lose
Intermediate Advanced Questions
5 The SEC lawsuit was settled so why isnt XRP pumping
The SEC case was a major catalyst but the market has already priced in that win After the ruling in July 2023 XRP surged and many investors took profits Now the price is adjusting to broader market conditions and lack of new immediate positive news The legal clarity helps longterm adoption but it doesnt guarantee shortterm price jumps
6 Im a bull and I keep buying the dip but it keeps dipping Am I wrong
This is called c