XRP price has initiated another downturn, dropping below the $1.40 threshold. The price is currently trading under $1.40 and below the 100-hourly Simple Moving Average. A significant bearish trend line is taking shape, presenting resistance at $1.4120 on the hourly chart for the XRP/USD pair. The pair may keep trending downward if it remains under $1.420. XRP price struggled to maintain levels above $1.4350, continuing its downward trend, similar to Bitcoin and Ethereum. The price has dipped below $1.420 and $1.40, signaling a move into a short-term bearish zone.
The price has further declined, dropping below $1.3850. A low was established at $1.3713, and the price is currently consolidating losses beneath the 23.6% Fibonacci retracement level of the downward movement from the $1.4820 swing high to the $1.3713 low. The price is currently trading under $1.40 and below the 100-hourly Simple Moving Average. A potential recovery move could encounter resistance around the $1.3980 mark. The initial significant resistance stands around the $1.4120 mark. A significant bearish trend line is taking shape, presenting resistance at $1.4120 on the hourly chart for the XRP/USD pair.
The primary resistance may be found at $1.4250, coinciding with the 50% Fibonacci retracement level of the decline from the $1.4820 swing high to the $1.3713 low. A close above $1.4250 might propel the price to $1.440. The upcoming obstacle is positioned at $1.4560. A decisive breakout above the $1.4560 resistance could propel the price towards the $1.4820 resistance level. Further gains could propel the price towards the $1.50 resistance level. The upcoming significant challenge for the bulls could be around $1.5120.
If XRP is unable to break through the $1.4120 resistance level, it may initiate a new downward trend. Initial support on the downside is positioned around the $1.380 mark. The next significant support level is around $1.3750. Should a downside break occur with a close beneath the $1.3750 threshold, we could see the price trend further down to the $1.3620 mark. The next significant support level is around the $1.350 area, and if the price falls below this point, it may extend its decline toward $1.3350.