XRP, even $1.4 'shaking'... warning of drop to $1.32 due to disappearance of buying power

▲ XRP/ChatGPT generated image

After XRP fell below $1.45 and entered a consolidation phase for losses, the possibility of a breakdown of the $1.40 support level emerged as a key market variable.

NewsBTC reported on May 14 (local time) that the XRP price extended its decline below $1.45 and is currently facing resistance near $1.4330 and $1.4460. According to the article, XRP started another downward trend after falling below the $1.44 range, and is currently trading below $1.4350 and the 100-hour simple moving average.

XRP continued its decline, similar to Bitcoin (BTC) and Ethereum (ETH), after failing to hold above $1.4680. The price fell below $1.4550 and $1.45 in succession, entering a short-term bearish phase and extending its losses below $1.4350. A low was formed at $1.4109, and since then, it attempted a limited recovery by surpassing the Fibonacci 23.6% retracement level of the downward move from the $1.4688 high to the $1.4109 low.

In case of a rebound, the first resistance level is $1.4330, and the first major resistance level is suggested to be around $1.44. The key resistance level is the Fibonacci 61.8% retracement level of the same downward move, at $1.4460. According to Kraken data, a bearish trend line forming resistance around $1.4520 also appeared on the XRP/USD hourly chart.

If XRP closes above $1.4460, a recovery trend towards $1.4880 could open up. The next barrier is $1.4950, and a clear break above this resistance could lead to a rise to $1.5050. If the upward trend continues, the $1.5250 resistance level is suggested as the next target zone.

Conversely, if XRP fails to overcome the $1.4460 resistance zone, a new downward trend could begin. The initial support level is $1.4180, and the next major support level is $1.4120. If it breaks below $1.4120 and closes there, the decline could continue to $1.4050, and if the $1.40 range also collapses, further bearishness towards $1.32 could follow.

Technical indicators also pointed to weakening buying pressure. The XRP/USD hourly MACD (Moving Average Convergence Divergence) is accelerating in the bearish zone, and the hourly RSI (Relative Strength Index) remains below 50. According to the article, the key support levels are summarized as $1.4120 and $1.4050, and the key resistance levels as $1.4330 and $1.4460.

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