The cryptocurrency XRP has recently experienced a notable decline, extending its losses below the $1.3650 level. The asset is currently consolidating, facing resistance around the $1.3550 and $1.380 levels. Its current trajectory suggests that unless buying momentum resumes, further downside may be imminent.
The decline commenced after XRP failed to hold above $1.3740, a level that previously served as support. This breakdown allowed the price to dip below key levels at $1.3550 and $1.3350, with a low traced at approximately $1.3217. The recent decline retraced more than half of the prior upward move from a low of $1.3217 to a swing high near $1.4739, positioning XRP within a short-term bearish outlook. The asset remains trading beneath the 100-hour simple moving average and a significant bearish trend line, which may continue to suppress upward rebounds.
On the technical front, the immediate resistance continues to be near $1.3520, aligned with a forming bearish trend line. To reverse the bearish bias, XRP must recover decisively above the $1.380 mark, which itself is a pivot point ahead of the next major resistance zone around $1.3980. Breaking past these levels could open the door toward $1.420, with subsequent targets at $1.4250 and $1.450. Further advances might push towards the $1.4750 level, with a potential spike to $1.50 in extended bullish scenarios.
Conversely, failure to surmount the $1.380 resistance level might trigger additional declines. Initial support is expected near $1.3365, with a more substantial level at approximately $1.3220. A daily close below this could suggest further downside, potentially testing support zones around $1.3120 and $1.3080.
Technical indicators reflect the current cautious stance: the MACD is losing bearish momentum, and the RSI remains above 50, indicating some residual buying interest but not enough to undermine the prevailing downward trend. The near-term outlook remains bearish unless XRP regains key resistance levels and sustains a recovery.
