XRP started a recovery wave above the $1.3550 and $1.360 levels after finding support near $1.3450. The price managed to break above a declining channel with resistance at $1.380 on the hourly chart, but it continues to trade below $1.3850 and the 100-hourly Simple Moving Average, keeping bearish pressure alive.
Resistance is clustered around $1.3850 and the 23.6% Fibonacci retracement of the drop from $1.5495 to $1.3465. A decisive close above $1.3940 would be needed to extend gains towards $1.420 and potentially the $1.4720 level, which marks the 61.8% retracement. Bullish momentum is fragile – the hourly MACD is ticking higher but remains in the early stages, while the RSI has reclaimed the 50 midpoint.
If the rebound fails at $1.3940, the price risks a fresh decline. Immediate support lies at $1.3620, with stronger support at $1.3550. A breakdown below $1.3550 could trigger a slide back to $1.3450 and then $1.3350, with the $1.320 zone coming into view as the next major floor.
