XRP dropped below $1.88 after failing to break through resistance at $1.95, with technical indicators showing mounting downward pressure. The cryptocurrency now trades beneath its 100-hour simple moving average as a bearish trend line forms with resistance at $1.9350.
What Happened: Price Retreats From Resistance
XRP attempted a recovery above $1.92 but reversed course, following similar pullbacks in Bitcoin and Ethereum. The decline pushed the price below $1.90 and $1.88, eventually reaching a low of $1.8473.
The cryptocurrency now trades below the 23.6% Fibonacci retracement level of its move from $1.9865 to $1.8437.
A bearish trend line has formed on the hourly chart, creating resistance at $1.9350.
Also Read: Bitcoin Tests $87K Support As On-Chain Activity Reaches Cycle Lows
Why It Matters: Technical Breakdown Threatens Support
Any recovery attempt faces immediate resistance at $1.88, with the first major barrier at $1.9150—the 50% Fibonacci retracement level.
A break above that level could push prices toward $1.9350 and the trend line, while clearing $1.95 might open a path to $2.00.
Failure to breach $1.9150 could trigger additional losses. Initial support sits at $1.85, followed by $1.8320. A close below $1.8320 would target $1.80, with the next major support at $1.7650.
The hourly MACD accelerates in bearish territory while the Relative Strength Index dropped below 50, signaling weakening momentum.
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