XRP continues its downward trajectory, falling below the key $1.40 level and turning it into resistance. The asset has closed six of the last seven weekly candles in the red, indicating sustained selling pressure. Technical analysis suggests $1.00 could be the next significant support, while the daily MACD indicator shows a bullish divergence, hinting at a potential for a complex reversal pattern if buyers can reclaim the $1.40 level.
The price of XRP has fallen below the $1.40 support level, which has now become a key resistance point. Sellers returned to push the price lower after a brief attempt to hold that level.
This downtrend is part of a broader bearish pattern observed since the start of the year. XRP has closed 6 of 7 weekly candles in the red, leaving little room for a relief rally.
Analysts are watching the $1.00 mark as a critical support level. The next key resistance to overcome remains at $1.40.
Despite the negative price action, the daily Moving Average Convergence Divergence (MACD) momentum indicator shows a bullish signal with a positive histogram. This suggests the asset may be forming a complex reversal pattern that could lead to an upward move.
Market participants are advised to watch the $1.40 level closely. A successful reclamation of this price point could signal the return of bullish momentum.
