XRP Price Trades Below $1.40, Can It Stabilize And Rebound?

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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 $1.40. The price is now consolidating losses and faces hurdles near $1.3980 and $1.40. - XRP price started another decline and traded below the $1.40 zone. - The price is now trading below $1.40 and the 100-hourly Simple Moving Average. - There was a break above a bearish trend line with resistance at $1.3820 on the hourly chart of the XRP/USD pair (data source from Kraken). - The pair could continue to move down if it stays below $1.40. XRP Price Dips Further XRP price failed to stay above $1.4050 and extended its decline, like Bitcoin and Ethereum. The price declined below $1.4020 and $1.40 to enter a short-term bearish zone. The price even extended losses below $1.380. A low was formed at $1.3680, and the price is now consolidating losses. There was a minor recovery wave toward the 23.6% Fib retracement level of the downward move from the $1.4470 swing high to the $1.3680 low. Besides, there was a break above a bearish trend line with resistance at $1.3820 on the hourly chart of the XRP/USD pair. The price is now trading below $1.40 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.3980 level. The first major resistance is near the $1.4075 level or the 50% Fib retracement level of the downward move from the $1.4470 swing high to the $1.3680 low. The main resistance could be $1.4170. A close above $1.4170 could send the price to $1.4220. The next hurdle sits at $1.4250. A clear move above the $1.4250 resistance might send the price toward the $1.450 resistance. Any more gains might send the price toward the $1.4650 resistance. More Losses? If XRP fails to clear the $1.3980 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3780 level. The next major support is near the $1.3680 level. If there is a downside break and a close below the $1.3680 level, the price might continue to decline toward $1.3550. The next major support sits near the $1.350 zone, below which the price could continue lower toward $1.3220. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $1.3780 and $1.3680. Major Resistance Levels – $1.3980 and $1.4000.

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