XRP (XRP) extended its downtrend below the $1.4320 level, forming a low at $1.4102 as the token trades beneath its 100-hourly Simple Moving Average with a declining channel capping resistance at $1.480 on the hourly chart of the XRP/USD pair.
What Happened: XRP Drops Below $1.45
The token failed to hold above $1.480 and slid through the $1.4650 and $1.450 levels, entering a short-term bearish zone. The decline mirrored broader weakness across major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).
After hitting the $1.4102 low, XRP saw a minor bounce toward the 23.6% Fibonacci retracement level of the move from the $1.5119 swing high to the $1.4102 low.
The first notable resistance sits near $1.4620, which aligns with the 50% Fib retracement of that same range, while a close above $1.480 could open the path toward $1.50.
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Why It Matters: Bearish Signals Mount
Technical indicators point to sustained downside pressure. The hourly MACD is gaining pace in the bearish zone, and the RSI has dropped below the 50 level.
If XRP fails to reclaim $1.480, a break below $1.410 could drag the price toward $1.40 and potentially the $1.3850 support zone. Conversely, clearing $1.5250 would target $1.550 and eventually $1.5880.
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