XRP extends losses below key support level
XRP continued its downward trend this week, dropping below the $1.3650 support level that many traders were watching closely. The cryptocurrency now trades around $1.33, which represents a significant decline from recent highs near $1.46.
I think what’s interesting here is how XRP moved in sync with broader market trends. Bitcoin and Ethereum also faced selling pressure, suggesting this wasn’t just an XRP-specific issue. The price action shows XRP breaking through multiple support levels—first $1.40, then $1.380, and finally that critical $1.3650 mark.
Technical resistance levels loom overhead
Looking at the charts, there are several resistance levels that could limit any recovery attempt. The first hurdle sits at $1.3620, which is actually below where XRP just broke down from. That’s not a great sign, honestly.
The more significant resistance appears to be around $1.4120. That level corresponds to the 61.8% Fibonacci retracement of the recent decline from $1.4641 to $1.3300. Technical traders often watch these Fibonacci levels, so it might matter more than other price points.
There’s also a bearish trend line forming around $1.4250 on the hourly chart. If XRP can somehow push above that, maybe we’d see movement toward $1.45. But that feels like a distant possibility right now.
Support levels and potential further declines
On the downside, the immediate support is at $1.3320, with the next major level at $1.3300. These are essentially the same area, which tells me there’s not much standing between current prices and lower levels.
If $1.3300 breaks, we could see XRP testing $1.3120, then potentially $1.30. Below that, $1.2840 comes into play. The technical indicators aren’t helping either—the MACD shows bearish momentum increasing, and the RSI sits below 50, indicating oversold conditions that could persist.
Market context and trader sentiment
What strikes me about this situation is how quickly sentiment shifted. Just recently, traders were talking about XRP potentially reaching $1.50 or higher. Now the conversation has turned to whether $1.30 will hold.
The consolidation below the 23.6% Fibonacci retracement level suggests weak buying interest. When prices can’t even retrace a quarter of their recent decline, that typically signals continued bearish pressure.
I’m watching how XRP handles the $1.4120 resistance zone. If it can’t clear that area, we might see another leg down. But if somehow it breaks above $1.4250, maybe the narrative changes. For now though, the path of least resistance appears to be lower.
Traders seem to be preparing for more volatility. The tight range between current support and resistance levels suggests something has to give soon—either a breakdown or a meaningful recovery attempt. Given the technical setup, I’d lean toward expecting more testing of lower support levels before any sustained recovery begins.
