XRP price extended losses and dipped below $1.28, entering a short-term bearish zone. The token slipped to a low of $1.2752 on Kraken, consolidating well below the 23.6% Fib retracement of its recent decline from $1.3642 to $1.2752. Bears now have control, with immediate hurdles at $1.2880 and $1.30.
The hourly chart reveals a bearish trend line forming with resistance at $1.3150. Price is trading below the 100-hourly Simple Moving Average, signaling weak near-term momentum. On the upside, a recovery would face resistance first at $1.2920, then $1.2960—both far below prior swing highs.
XRP's decline mirrors broader crypto market weakness, with Bitcoin and Ethereum also retreating. While XRP's market cap remains above $60 billion, the asset has slipped in dominance relative to altcoins. Regulatory clarity from the SEC's ongoing case remains a key overhang, but no new legal developments emerged in this session.
Trading volume has been elevated during the selloff, suggesting distribution. On-chain data shows a slight uptick in active addresses, but net exchange inflows point to selling pressure. The $1.2750 area may provide short-term support, but failure there could open a path toward $1.24.
A potential recovery would require a breakout above $1.30 with volume, but the broader sentiment remains cautious. If XRP reclaims $1.3150, it could invalidate the bearish structure—though that appears unlikely given the current momentum and macro headwinds.