XRP dropped below the $1.1620 hourly chart support line, kicking off a downward correction. The token now trades under $1.150 and the 100-hour Simple Moving Average, with MACD showing bearish momentum and RSI dipping below 50. Traders face mounting pressure as resistance holds at $1.150.
Technical Breakdown Confirmed
The hourly chart tells the story plainly. XRP's break below the $1.1620 support line erased the prior bullish structure. Now the price sits beneath both $1.150 and the 100-hour SMA, confirming the reversal. MACD’s red signal and RSI reading below 50 add weight to the bearish shift.
Key Levels Under Pressure
Resistance stands firm at $1.150 and $1.1840. A failure to reclaim $1.150 likely accelerates the drop toward $1.1020, which aligns with the 61.8% Fibonacci retracement of the $1.050 to $1.1863 move. The $1.10 level looms as critical secondary support. Traders watch $1.1072 closely; a breakdown there risks a plunge to $1.080.
Prior Failure Sets Current Trajectory
Wednesday’s slide didn’t come from nowhere. XRP previously failed to hold above $1.1750 and $1.1840, setting the stage for this correction. That earlier rejection created the downward momentum now pushing price toward lower support zones. The pattern shows how resistance levels can flip from barriers to catalysts for deeper moves.
If XRP can’t breach $1.150 today, the next test comes at $1.1072—a level that could determine whether the slide extends to $1.080.
