XRP Tests $1.41 Support After Dropping Below Trend Line
XRP consolidated below $1.4250 after losing the $1.44 level. The hourly MACD is gaining pace in the bearish zone while the RSI sits below 50, signaling bears still control momentum.
Key Takeaway
XRP's break below trend line support puts $1.40 at risk unless bulls reclaim $1.4375.
XRP broke below its bullish trend line support at $1.4240 and declined to $1.4125 before stabilizing. Now trading below the 100-hour simple moving average, XRP faces immediate resistance at $1.4240—the same level that previously acted as trend line support.
The first major resistance sits at $1.4375, which aligns with the 50% Fibonacci retracement level of the downward move from $1.4625 to $1.4125. Breaking through that level opens the door to $1.4450, then $1.4550 and $1.4620. A sustained push above $1.4620 would target the psychological $1.50 level, with further gains possibly reaching $1.5150.
Both technical indicators point to continued weakness. The hourly MACD is gaining pace in the bearish zone, while the RSI sits below 50. Bloomberg analysts put XRP ETF approval odds at 95% following Ripple's 2024 SEC legal victory, which helped push XRP out of a six-year trading range last November.
Downside support starts at $1.4120, then $1.40. A break below $1.40 could accelerate selling toward $1.3840, $1.3650, and potentially $1.3440 if bears gain full control. US-listed XRP ETFs recently saw ₱199.8 million ($3.32 million) in inflows, a reversal after ₱1.69 billion ($28 million) in net outflows earlier this year.
This article was written based on reporting from NewsBTC.
