XRP Fails to Break Major Resistance, Faces Risk of Further Plunge... When Will it Surpass the $1.5 Mark?

▲ XRP

XRP has failed to break through a major resistance line and is now retesting the $1.42 support level, standing at a critical crossroads between further decline and a potential rebound.

According to crypto media outlet NewsBTC on April 22 (local time), XRP recently failed to defend the $1.45 level and has been showing a downward trend, continuing a relatively sluggish performance compared to Bitcoin (BTC) or Ethereum. On hourly charts, the upward trend line in the $1.4240 area has broken, indicating entry into a short-term bearish phase. The current price formed a short-term bottom at $1.4125 and is now showing sideways movement to recover losses, but it is trading below the 100-hour simple moving average, facing pressure.

Technical analyst Aayush Jindal diagnosed that a full recovery for XRP would only be possible if it surpasses the resistance barriers formed at $1.4375 and $1.4450. Specifically, $1.4375 is intertwined with the 50% Fibonacci retracement line of the recent decline, making it a key indicator for determining short-term direction. If XRP successfully settles above $1.4450, it would pave the way to extend its gains past $1.4620 to psychological highs of $1.50 and $1.5150.

Vigilance against further downside risk cannot be relaxed. Senior market analyst Jindal analyzed that if XRP fails to break through the $1.4375 resistance zone, new selling pressure could enter, intensifying downward pressure. The current primary support level is formed at $1.4120, and if even this line breaks, the psychological last stand of $1.40 would be threatened. If the closing price forms below $1.40, the decline could deepen past $1.3840 and $1.3650 to $1.3440.

Auxiliary market indicators also support the short-term bearish trend. The hourly Moving Average Convergence Divergence (MACD) is currently accelerating its decline within the bearish zone, and the Relative Strength Index (RSI) remains below the baseline of 50, indicating weakened buying power. Investors are closely watching to see if the price establishes a stable support base around $1.4120 and sends rebound signals. Movements that test resistance lines without accompanying trading volume could lead to fake breakouts, requiring caution.

The XRP ecosystem is undergoing its own price correction phase without riding on Bitcoin's upward momentum. The $1.40 level is acting as a strong downside support for the market and a psychological defense line for investors, and it is expected to be a critical turning point that will determine its trajectory over the coming weeks. Currently, the overall liquidity supply situation in virtual assets and changes in macro investment sentiment are acting as variables in whether XRP breaks resistance. Market participants are focusing on defending key support levels and deliberating on response strategies.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*