XRP retreats from $1.40, erasing gains as bearish momentum returns

crypthub

1 day ago

Current Market Overview

XRP has entered a downside correction after failing to break the $1.40 zone, now trading below $1.34 and the 100‑hourly SMA. A bearish trend line creates resistance at $1.3550 on the hourly chart (Kraken data). The price briefly rose above $1.35 but fell back, forming a high at $1.3963 before the correction. It remains beneath the 50% Fib retracement from the $1.2940 low to the $1.3963 high.

Potential Upside Targets

If XRP can stay above the $1.3550 resistance, it may test $1.3650 and then $1.3880, eventually reaching the $1.40 level. Primary resistance points are near $1.3450 and $1.3550, with a larger hurdle at $1.4250 for a sustained rally. A clear break above $1.3650 could trigger a move toward the $1.3880 zone.

Downside Risks and Indicators

Failure to clear the $1.3450 zone could push the price down toward support at $1.3220, with the next key level at $1.3180 (76.4% Fib). Further breaks may lead to $1.3110, then $1.2880, $1.2680, and potentially $1.250. Technical signals show the hourly MACD accelerating in bearish territory and the RSI staying below the 50 mark.