XRP price has extended its recent decline, trading below the $1.50 psychological level and entering a short-term bearish zone. The price action saw a low formed at $1.4228, with the asset now consolidating losses. A technical break above a key bearish trend line with resistance at $1.4450 was observed on the hourly XRP/USD chart, but the pair remains below the 100-hourly Simple Moving Average.
According to analysis from cryptocurrency analytics firm MakroVision, XRP is trading within a significant range between $1.32 and $1.55. The firm identifies $1.32 as a critical support level, warning that a close below this point for two consecutive days could invalidate the current recovery scenario and lead to a test of lower prices. On the upside, $1.55 is highlighted as the first major resistance; a strong break above this level could pave the way for a move toward the $1.82 region.
Immediate technical hurdles for XRP are seen near $1.4650 and $1.50. A sustained close above $1.50 is needed to potentially trigger a recovery toward $1.5360 and $1.5620. Conversely, failure to clear the $1.50 resistance could initiate another decline, with major support levels at $1.4400 and $1.4220. A break below $1.4220 could see the price target $1.3650.
