The price of XRP has extended its decline, falling below the $1.3250 support level and resuming a clear downtrend after a brief pause. According to technical analysis, XRP is now trading below $1.3220 and the 100-hourly Simple Moving Average, having broken a bullish trend line with support at $1.3160 on the hourly chart. The asset formed a low near $1.3072 and is consolidating below the 23.6% Fibonacci retracement level of the recent drop from a $1.3678 high.
Key resistance levels are now clustered around $1.3250 and $1.3450, with the latter representing the 61.8% Fib level. A close above $1.3650 is needed to potentially trigger a move toward $1.3820 or even $1.40. Conversely, failure to clear the $1.3450 resistance could initiate a fresh decline, with major support levels at $1.3080, $1.30, and as low as $1.2750.
Adding to the bearish technical picture, a CryptoQuant report highlights that XRP is trading below all its major moving averages on Binance—creating a "bearish stack." The 30-day, 90-day, and 200-day moving averages sit at approximately $1.40, $1.64, and $2.06, respectively, all above the current price. Reclaiming the $1.40 level (the 30-day MA) is cited as the critical first step to signal slowing downward momentum.
Furthermore, the report underscores that XRP's price action is not independent; it is tightly correlated with Bitcoin, with a correlation coefficient of approximately 0.87. This means XRP is acting as a "high-beta expression" of Bitcoin's movements. Therefore, XRP's near-term fate is heavily tied to whether Bitcoin can stage a sustained rally or continues to struggle below the $70,000 level.
On the weekly chart, XRP is testing a historically significant zone near $1.35 after a sharp rejection from the $3.00–$3.50 region. The asset is trading below a downward-sloping 50-week moving average, indicating weakened structure. The outcome of this test will be pivotal for determining the medium-term direction.
