XRP (XRP) clawed back above the $1.30 mark this week, yet the bounce already looks shaky as traders brace for another possible drop.
Key Points:
- XRP recovered above $1.30 but still trades below its 100-hourly simple moving average, a sign of a fragile rebound.
- A bearish trend line caps the token near $1.3420, and a slip under $1.3350 could open the door to fresh losses.
- The coin holds near $80B in value after falling close to 5% over the past week.
XRP Bounce Loses Steam
The token held support above $1.2650 and pushed higher alongside Bitcoin (BTC) and Ethereum (ETH) during a broad market recovery attempt, data showed. It climbed past $1.288 and $1.29 into a short-term positive zone before buyers ran into trouble. Sellers stalled the advance near $1.3350, just above the midpoint of the slide from $1.3638 down to $1.2677.
XRP now changes hands below $1.320 and its 100-hourly simple moving average, a sign the rebound stays weak. A bearish trend line adds further pressure at $1.3420 on the hourly chart.
A push past $1.3280 could lift the token toward $1.3350, with the next hurdle waiting at $1.3420. A clear break above that line would extend the move toward $1.3650 and possibly the $1.380 resistance. Repeated failure there has trapped buyers after another stalled breakout attempt.
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XRP Faces Renewed Pressure
A close back under $1.30 would mark the first warning, with the next supports near $1.290 and $1.2720. A deeper break could expose $1.2650, then $1.2550 and $1.2250. Broader daily readings already lean firmly bearish, with sell signals far outnumbering buys across the technical indicators.
Momentum tools echo the cautious tone seen across the charts. The hourly MACD is losing steam in bullish territory, while the RSI hovers near the neutral 50 line, well short of overbought.
XRP's Rough May
The token's near-term path stays closely tied to Bitcoin, which has fought to hold its own footing near multi-week lows. Analysts say a real recovery needs the larger coin to steady, XRP to defend $1.30, and the rally to reclaim lost resistance. Until then, the easier route still points sideways to lower.
XRP has spent much of May grinding down, shedding close to 5% in the past week and leaving its market value near $80B. Daily turnover topped $2B as the token eased about 2% over the past day. The token has defended the $1.30 to $1.50 band for weeks, a floor that absorbed steady selling after the price slipped from above $1.50 earlier in the month.
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