XRP Price Continues Grinding Lower As Buyers Stay On Sidelines

TL;DR

XRP price has declined below $1.450, facing resistance at $1.4330 and $1.4460. The bearish trend continues as buyers remain inactive.

Key points

XRP price extended losses below $1.450
Current trading below $1.4350 and 100-hourly SMA
Bearish trend line resistance at $1.4520

XRP price extended losses and traded below $1.450. The price is now consolidating losses and faces hurdles near $1.4330 and $1.4460.

XRP price started another decline and traded below the $1.440 zone.
The price is now trading below $1.4350 and the 100-hourly Simple Moving Average.
There is a bearish trend line forming with resistance at $1.4520 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could continue to move down if it stays below $1.450.

XRP Price Extends Decline

XRP price failed to stay above $1.4680 and extended its decline, like Bitcoin and Ethereum. The price declined below $1.4550 and $1.450 to enter a short-term bearish zone.

The price even extended losses below $1.4350. A low was formed at $1.4109, and the price is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the downward move from the $1.4688 swing high to the $1.4109 low.

The price is now trading below $1.450 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.4330 level. The first major resistance is near the $1.440 level.

The main resistance could be $1.4460 and the 61.8% Fib retracement level of the downward move from the $1.4688 swing high to the $1.4109 low. There is also a bearish trend line forming with resistance at $1.4520 on the hourly chart of the XRP/USD pair.

Source: XRPUSD on TradingView.com

A close above $1.4460 could send the price to $1.4880. The next hurdle sits at $1.4950. A clear move above the $1.4950 resistance might send the price toward the $1.5050 resistance. Any more gains might send the price toward the $1.5250 resistance.