XRP ’s current price is hovering around the $1.400 level as it struggles to break through the crucial resistance level at $1.4550. The cryptocurrency has shown difficulty in gaining the momentum necessary for a push above the $1.50 level. Currently, XRP is trading below both $1.450 and the 100-hour simple moving average, which adds to the bearish sentiment.
Recently, XRP experienced a decline, dipping below the $1.30 benchmark before bouncing back up. This low was registered at $1.2828, and since then, the price has shown some recovery in contrast to the more pronounced downturns seen in Bitcoin and Ethereum . The price managed to rise past recent resistance levels at $1.3250 and $1.340 but has encountered persistent pressure near the $1.420 resistance zone. A noteworthy trend line is forming with a resistance line at $1.4550 on the hourly chart, complicating any potential upward movements.
For XRP to regain bullish momentum, it will need to overcome the $1.4550 resistance. A successful breakout could facilitate an increase towards the next significant resistance level at $1.550, with the possibility of moving even higher to $1.600 or $1.620 in the short term. However, should the resistance hold, XRP may see a retracement, initially finding support around the $1.3200 level, followed by the critical $1.30 point.
In the event of a significant decline below $1.30, XRP could trend further down towards the $1.2800 support zone, with the next key support level situated around $1.2650. Technical indicators currently suggest weakening bullish momentum, with the hourly MACD slowing down and the RSI indicating a position below the midpoint level. Investors will be watching closely for critical moves in either direction.
