- XRP price trades near $1.37 after four straight daily losses
- Bearish channel structure points toward support near $1.30 and lower
- Key resistance levels remain at $1.40, $1.51, and $1.56
XRP price is trading near $1.37 after four consecutive daily losses, showing continued weakness. Analysts note that the current downward structure remains intact, with further downside likely. Key support levels near $1.30 are now in focus, while resistance above $1.40 continues to limit any short-term recovery attempts in the market.
XRP Price Remains Under Pressure in Bearish Channel Structure
XRP price is trading near $1.37 after recording four consecutive daily losses this week. The asset continues to move within a downward parallel channel on the daily chart. According to Crypto Tony, the XRP price is likely to move lower in the short term. He stated that “the lows are coming,” reflecting a bearish outlook.
The 1-hour chart shows XRP price near 1.3667, with recent highs around 1.3685. Price has declined from levels close to 1.48 and is now approaching lower support zones. The descending structure suggests sellers remain active, and upward moves appear limited.
XRP price is also trading below key moving averages. The 50-day EMA near $1.40 acts as immediate resistance. Additional resistance sits at the 100-day EMA near $1.51 and the channel top around $1.56.
XRP Price Momentum Weakens as Key Support Levels Approach
Momentum indicators continue to reflect weakness in the XRP price. The RSI remains near 45, which is below the neutral level. This indicates reduced buying strength and ongoing pressure from sellers. The MACD has also moved into negative territory, supporting the bearish trend.
On the downside, XRP price has initial support near the $1.30 level. This area previously acted as a demand zone where buyers stepped in. If selling pressure increases, the price may move toward lower support levels near $1.24 and below.
Traders are watching for a potential shift in structure before entering long positions. A daily close above $1.40 could ease short-term pressure. However, stronger resistance remains at $1.51 and $1.56, which must be cleared for any trend change.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
