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▲ XRP/AI-generated image
XRP has given up its $1.40 support level, intensifying downward pressure, and is expected to face a risk of further collapse if it fails to break through key resistance levels.
According to a report by cryptocurrency media outlet NewsBTC on April 29 (local time), XRP began its decline from the $1.45 resistance area, breaking below the $1.42 and $1.40 support levels in succession. The XRP price is currently trading below $1.40 and the 100-hour simple moving average, solidifying its downtrend. In particular, a major bearish trend line is forming near $1.41 on the hourly chart, acting as resistance and hindering any rebound.
XRP recently attempted a slight rebound after forming a bottom near $1.352 but failed to overcome the $1.40 resistance wall and fell back down. Virtual asset analyst Aayush Jindal diagnosed, "If XRP fails to definitively break the $1.41 resistance, the downtrend could intensify." Currently, the primary resistance level is $1.41, and even if it surpasses this, strong resistance awaits at $1.425 and $1.45.
The downside support level is formed at $1.365, and if this support breaks, there is a high probability of a retreat to the next major support level of $1.35. A warning has been issued that if even $1.35 is given up, the price could plummet vertically to the psychological last line of defense at $1.32. With selling pressure dominating the market, buying interest remains subdued, and a wait-and-see attitude is deepening.
Technical indicators also support XRP's bearish trend. The hourly Moving Average Convergence Divergence (MACD) is accelerating in the bearish zone, and the Relative Strength Index (RSI) remains below 50, suggesting further downside potential. The concurrent weakness of major virtual assets like Bitcoin (BTC) and macroeconomic uncertainties are further amplifying the psychological anxiety of XRP investors.
Market participants anticipate that for XRP to halt its downtrend and secure reversal momentum, it must at least break above the $1.45 resistance level. As of now, downside risks persist, and the defense of key support levels is expected to be a critical inflection point determining the future direction of the price. Unless accompanied by whale movements and changes in trading volume, a volatile bottom-of-the-range trend is expected to continue for the time being.
*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.*
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