XRP (XRP) dropped below $1.3550 and hit a low of $1.3217 after failing to hold above $1.3740, though technical indicators now suggest the selling pressure may be easing as the RSI climbs back above the 50 level.
What Happened: XRP Breaks Support
The token slid beneath its 100-hourly Simple Moving Average and broke through multiple support levels, tracking broader weakness in Bitcoin (BTC) and Ethereum (ETH). A key bearish trend line has formed with resistance at $1.3520 on the hourly XRP/USD chart.
The price is now consolidating below the 23.6% Fibonacci retracement of the move from the $1.4739 swing high to the $1.3217 low.
Recovery attempts face immediate resistance at $1.3520, with the more significant barrier sitting at $1.3800. A break above $1.3980 — the 50% Fib retracement level — could open the path toward $1.4200 and potentially $1.4750.
Also Read: Oil Spike And Equity Selloff Weigh On Crypto Markets As Bitcoin Tests $66,000
Why It Matters: Mixed Signals Ahead
On the downside, failure to clear $1.3800 could trigger another leg lower, with initial support at $1.3365 and a more critical floor at $1.3220. A close below $1.3220 would expose the $1.3080 zone and potentially $1.30.
The hourly MACD is losing momentum in bearish territory, while the RSI has crossed back above 50 — a combination that often precedes either a relief bounce or extended sideways action. For now, the $1.3800 resistance and $1.3220 support define the range traders are watching.
Read Next: South Korea Lifts Its Corporate Crypto Ban - But Draws A Hard Line Against USDT And USDC