XRP Price Continues Grinding Lower As Buyers Stay On Sidelines

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Reason to trust How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP price extended losses and traded below $1.450. The price is now consolidating losses and faces hurdles near $1.4330 and $1.4460. - XRP price started another decline and traded below the $1.440 zone. - The price is now trading below $1.4350 and the 100-hourly Simple Moving Average. - There is a bearish trend line forming with resistance at $1.4520 on the hourly chart of the XRP/USD pair (data source from Kraken). - The pair could continue to move down if it stays below $1.450. XRP Price Extends Decline XRP price failed to stay above $1.4680 and extended its decline, like Bitcoin and Ethereum. The price declined below $1.4550 and $1.450 to enter a short-term bearish zone. The price even extended losses below $1.4350. A low was formed at $1.4109, and the price is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the downward move from the $1.4688 swing high to the $1.4109 low. The price is now trading below $1.450 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.4330 level. The first major resistance is near the $1.440 level. The main resistance could be $1.4460 and the 61.8% Fib retracement level of the downward move from the $1.4688 swing high to the $1.4109 low. There is also a bearish trend line forming with resistance at $1.4520 on the hourly chart of the XRP/USD pair. A close above $1.4460 could send the price to $1.4880. The next hurdle sits at $1.4950. A clear move above the $1.4950 resistance might send the price toward the $1.5050 resistance. Any more gains might send the price toward the $1.5250 resistance. More Downside? If XRP fails to clear the $1.4460 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.4180 level. The next major support is near the $1.4120 level. If there is a downside break and a close below the $1.4120 level, the price might continue to decline toward $1.4050. The next major support sits near the $1.40 zone, below which the price could continue lower toward $1.320. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $1.4120 and $1.4050. Major Resistance Levels – $1.4330 and $1.4460.

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