XRP Price Weakens as Traders Brace for a Potential Fresh Sell-Off

The digital asset XRP has entered a downside correction after failing to maintain momentum above the $1.3740 zone. As bearish signals build, the market is closely watching key support levels to determine if the currency can stage a recovery or if a deeper decline is imminent.

Resistance and Technical Indicators

Following the broader market trend seen in Bitcoin and Ethereum, XRP struggled to stay above $1.3720 and began a fresh decline. The price dipped below the $1.3620 and $1.3600 levels, eventually spiking below the 50% Fibonacci retracement level of its recent upward move. Currently, a bearish trend line is forming with resistance at $1.360, while technical indicators like the Hourly MACD are gaining pace in the bearish zone.

Support Levels and Downside Risks

XRP is currently consolidating, but the outlook remains fragile. If the asset fails to clear the $1.360 resistance zone, it could trigger a fresh decline toward initial support near $1.330. A more significant breakdown below $1.3280—the 61.8% Fibonacci retracement level—could see the price slide further toward the $1.3120 and $1.3050 zones, with a major test of the $1.30 psychological floor a growing possibility.

Potential for Recovery

Despite the prevailing weakness, a recovery is not entirely off the table. If XRP manages to settle above the $1.3620 mark, it could gain the momentum needed for a fresh increase. Success in clearing this hurdle might push the price toward the $1.3750 resistance level, with the next major objective for bulls sitting near the $1.380 horizon.