XRP's price has extended its decline, trading below the $1.340 level and entering a short-term bearish zone. The cryptocurrency failed to stay above the $1.350 support and has underperformed both Bitcoin and Ethereum. It is now consolidating losses after forming a low near $1.320.
The asset broke below a rising channel with support at $1.3450 on its hourly chart, signaling a shift in momentum. This technical breakdown suggests sellers are gaining control. The price is currently trading below both the $1.3420 level and the 100-hourly Simple Moving Average.