XRP Braces for Impact: Can Bulls Defend the $1.30 Support Level?

The popular digital asset XRP has entered a fresh downside correction after failing to maintain momentum above the critical $1.35 resistance zone. As bearish signs mount, traders are closely watching key technical hurdles to determine if the current slide will turn into a deeper weekly breakdown.

Bears Take the Lead Below $1.35

XRP price recently struggled to sustain its position above the $1.3650 mark, mirroring a broader softening in the crypto market seen in Bitcoin and Ethereum. This lack of buying pressure triggered a clear move below the $1.3400 support and the 100-hourly Simple Moving Average. On the technical front, a bearish trend line has formed with resistance near $1.3580, suggesting that any recovery attempts may face significant selling interest in the near term. Currently, the asset is trading under pressure, having slipped below the 61.8% Fibonacci retracement level of its previous upward move. Technical indicators like the Hourly MACD are gaining pace in the bearish zone, while the Relative Strength Index (RSI) has dipped below the 50 level, signaling that sellers are currently in control of the market's direction.

Key Levels to Watch

For a bullish reversal to occur, XRP must first clear the $1.3400 resistance hurdle. A successful break above this level could pave the way for a test of $1.3500 and eventually the $1.3740 high. However, if the price fails to overcome these obstacles, further losses are likely. On the downside, initial support sits near $1.3175, followed by a more critical floor at $1.3125. If bears force a close below this latter mark, the price could accelerate its decline toward the $1.3000 psychological zone. Analysts warn that a breach of the $1.30 support could expose XRP to deeper losses, potentially testing the $1.2880 level in the coming days.