XRP Price Dips Below $1.3650, Faces Key Resistance Levels

XRP price has extended its recent losses, mirroring broader market weakness seen in major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). According to data from the Kraken exchange for the XRP/USD pair, the asset failed to maintain support above the $1.40 level, triggering a decline that pushed it below $1.380 and the critical $1.3650 threshold. This move has placed XRP firmly in a short-term bearish zone, with the price even breaching the $1.350 support level.

The decline culminated in the formation of a low at $1.3300. Currently, the price is consolidating these losses but remains positioned below the 23.6% Fibonacci retracement level, measured from the recent swing high of $1.4641 down to the $1.3300 low. More significantly, XRP is now trading not only below the $1.3650 mark but also beneath the 100-hourly Simple Moving Average, a technical indicator that often defines the near-term trend. This positioning underscores the prevailing selling pressure and the challenge ahead for any recovery attempt.

Any attempt at a fresh recovery for XRP faces a series of formidable resistance levels. Initial resistance is situated near the $1.3620 zone, followed by the first major hurdle at $1.3810. The primary resistance, however, is clustered around the $1.4120 level, which coincides with the 61.8% Fibonacci retracement level of the recent downward move from $1.4641 to $1.3300.

Adding to the bearish technical structure is a key bearish trend line forming with resistance at $1.4250 on the hourly chart of the XRP/USD pair. This trend line represents a dynamic ceiling for price action. A decisive hourly close above this $1.4250 barrier is identified as a potential catalyst that could send the price toward the $1.450 level, with the next significant hurdle sitting at $1.4650. A clear move above $1.4650 could then open the path toward resistances at $1.50, $1.5250, and potentially $1.550.

The technical indicators for XRP/USD reinforce the negative market sentiment. The hourly Moving Average Convergence Divergence (MACD) is reported to be gaining pace in the bearish zone, indicating strengthening downward momentum. Furthermore, the hourly Relative Strength Index (RSI) is now trading below the neutral 50 level, confirming that selling pressure currently outweighs buying interest.

Should XRP fail to clear the crucial $1.4120 resistance zone, the analysis suggests it could initiate a fresh decline. The initial support on the downside is near the $1.3320 level, with the next major support firmly at the recent low of $1.3300. A decisive downside break and a close below $1.3300 would likely signal a continuation of the decline, potentially targeting $1.3120. The next major support zone sits near $1.30, below which the price could extend losses toward the $1.2840 level.

The immediate future for XRP appears contingent on its interaction with defined technical levels. The confluence of resistance between $1.4120 and the bearish trend line at $1.4250 presents a significant challenge for bulls. Overcoming this barrier is essential to invalidate the current bearish structure and shift momentum.

Conversely, the support levels at $1.3320 and $1.3300 are critical for the bears to breach to confirm a deeper correction. The current technical analysis, supported by the bearish MACD and RSI readings, suggests the path of least resistance remains to the downside unless a sustained break above key resistance occurs. Market participants are closely watching these levels on the Kraken chart to gauge the next directional move for XRP in this volatile cryptocurrency environment.