XRP, $1.4 collapse...now 'emergency' to defend $1.35 support line

▲ XRP/ChatGPT generated image

XRP has given up the $1.4 support line and is at risk of transitioning into a short-term downtrend.

According to FXStreet, a cryptocurrency specialized media outlet, on April 28 (local time), XRP has fallen below the psychological resistance level of $1.4, reversing its recent upward trend. The price decline is accompanied by a weakening of buying interest and deterioration of technical indicators. Investors are focusing on whether a key support line can be secured to defend against further declines.

The Relative Strength Index (RSI) is currently showing a downward curve, indicating strengthening selling pressure. XRP's price is currently under downward pressure, being blocked by resistance around $1.45. If the support line around $1.35 breaks, the additional decline could extend to the $1.2 level. Market sentiment has also returned to a cautious phase.

Auxiliary indicators such as the Moving Average Convergence Divergence (MACD) are also warning of a potential bearish reversal. Currently, XRP is trading below its major moving averages, indicating a short-term weakening trend. According to Santiment data, the supply of XRP on exchanges has slightly increased, forming a potential selling wall. Profit-taking movements by whale investors are also being observed.

US President Donald Trump's foreign policy and macroeconomic uncertainties are putting pressure on the overall market. President Trump recently mentioned changes in geopolitical situations, stimulating market volatility. Bitcoin (BTC)'s price correction is also acting as a factor hindering XRP's rebound. Investors are focusing on risk management and adopting a conservative stance.

For XRP to stop its decline, it must quickly reclaim the $1.4 level. Without decisive intervention from buyers, the downtrend is likely to intensify. Market participants are closely watching the price defense at the $1.35 support zone and are preparing future response plans. Price volatility is expected to increase for the time being, so caution is required.

*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.*