XRP snapped back from a low near $1.15 after a sharp sell-off, with the price now consolidating below $1.30 as bulls cautiously re-enter the market.
The token fell more than 15% after breaking below $1.50 and $1.40, sliding alongside broader weakness in Bitcoin and Ethereum before finding support around $1.135.
XRP is currently trading below $1.30 and the 100-hour simple moving average, with a bearish trend line forming near $1.38 on the hourly XRP/USD chart, according to data from Kraken.
A recovery attempt could face initial resistance at $1.32, with further hurdles at $1.38 and $1.40, levels that coincide with key Fibonacci retracement zones.
If momentum improves and XRP breaks above $1.40, the price could extend gains toward $1.42, $1.45 and potentially retest the $1.50 area.
Failure to clear resistance may trigger another leg lower, with immediate support near $1.24 and stronger downside levels at $1.225 and $1.20.
Technical indicators remain cautious, with the hourly RSI below 50 and the MACD still in bearish territory, suggesting downside risks persist if buyers fail to gain traction.
At the time of reporting, XRP price was $1.31.