XRP extended its losing streak this week, sliding below the key $1.20 mark and touching a fresh low of $1.1401. The decline comes as broader market pressure from Bitcoin and Ethereum weighed on sentiment, pushing the token further under its 100-hourly simple moving average.
Technical levels under pressure
On Kraken's hourly chart, XRP/USD is forming a bearish trend line with resistance at $1.1950. That line has capped every attempted bounce in the past 24 hours. Immediate upside hurdles sit at $1.1880, $1.1920, and $1.1950. A close above $1.1950 could open the door to $1.20, then $1.220, the 50% Fibonacci retracement at $1.250, and finally $1.2850.
Downside support levels are clustered tight: $1.160, $1.1550, $1.150, $1.1440, and $1.140. A break below $1.1550 would likely accelerate selling toward $1.150 and the day's low at $1.140.
MACD and RSI signal continued weakness
The hourly MACD is gaining pace in the bearish zone, a sign that momentum remains negative. The relative strength index is below 50, confirming sellers are in control for now.
If XRP fails to clear the $1.1950 resistance, analysts expect a fresh decline. A close below $1.1550 would be a bearish trigger, likely sending the token toward the $1.140 support zone.
Why it's happening
The move lower mirrors similar action in Bitcoin and Ethereum. Neither of the two largest cryptocurrencies has found a footing this week, and XRP is following suit. No regulatory news or project-specific catalyst has surfaced — the selling appears purely technical and market-wide.
The next concrete test for XRP is whether it can reclaim the $1.1950 resistance before the daily close. If it doesn't, the path of least resistance points lower.
