XRP Price Begins Consolidation, Breakout Pressure Gradually Builds

XRP's price experienced a downside correction after failing to maintain levels above $1.420. It has now found support around the $1.3320 zone. The cryptocurrency is trading below $1.3740 and the 100-hourly Simple Moving Average. A new bearish trend line is forming, with resistance at $1.3880 on the hourly chart. However, if XRP stays above $1.3320, it could attempt another increase. Previously, XRP dipped below $1.3920 and $1.3880, also affecting the 50% Fib retracement level. Bulls are showing activity above the $1.3320 support. Immediate resistance lies near $1.370, followed by the $1.3880 and $1.4000 levels. A break above $1.4000 could push XRP towards $1.4320 and potentially $1.4500. Conversely, failure to clear $1.3880 resistance might lead to a fresh decline. Key support levels are identified at $1.3320 and $1.3085. Technical indicators like the hourly MACD and RSI suggest a loss of bullish momentum.