XRP price is consolidating above the $1.3280 support zone after a downside correction from a high of $1.3741. The cryptocurrency briefly dipped below $1.3450 before stabilizing, now trading above $1.35 and the 100-hourly Simple Moving Average. A bearish trend line forming with resistance at $1.3650 on the hourly chart suggests sellers remain active near that level.
The correction began after XRP failed to sustain a move above the $1.3720 zone, following a prior upward rally that outperformed both Bitcoin and Ethereum. The coin had gained pace above $1.37 resistance before hitting the recent high, then reversed, dipping below the 50% Fibonacci retracement of the move from $1.3001 to $1.3741.
Key resistance lies at $1.3650, with a more significant barrier at $1.3750 that could trigger a fresh upward leg if breached. On the downside, the $1.3280 floor remains critical—losing this level could open the door to further losses toward the $1.30 swing low.
Market participants are watching for a clear settlement above $1.3750 to confirm bullish momentum. Failure to break higher may extend the consolidation, with traders eyeing whether support at $1.3280 holds as the next catalyst for direction.
Technical analysis from NewsBTC suggests the recent correction is corrective within an uptrend, but caution is warranted given the bearish trend line formation.