XRP Stalls Below $1.36 Despite Breaking Trendline
XRP broke above a key trendline at $1.3550 but failed to hold momentum near $1.36. The RSI slipped below 50 as the token consolidates after a brief recovery from $1.32.
Key Takeaway
XRP cleared trendline resistance but fading RSI and MACD suggest bulls lack the strength to push past $1.38.
XRP cleared a key bearish trendline at $1.3550 but lost steam near the $1.360 threshold, according to data from the XRP/USD pair on Kraken.
The recovery started from a swing low of $1.3222. Price pushed past the 38.2% Fib retracement level of the move from the $1.3963 swing high to the $1.3222 low, briefly signaling bullish intent. But the rally stalled as the token now trades just above the 100-hourly Simple Moving Average.
First major resistance sits at $1.360. A clean break above that level could push XRP toward the 61.8% Fib retracement target at $1.3680, with $1.380 serving as the next hurdle. If bulls sustain pressure, the token could challenge $1.3880 and eventually the $1.40 zone.
On the downside, immediate support holds at $1.3220, with a deeper pullback likely testing $1.3120. A break below that level would expose the major support zone at $1.280, and potentially $1.2650 if selling pressure intensifies.
Technical indicators show mixed signals. The MACD for XRP/USD is losing pace in the bullish zone, while the RSI slipped below 50. Both suggest fading momentum despite price holding above key moving averages and sitting near $1.360.
This article was written based on reporting from NewsBTC.
