XRP Price Downside Momentum Builds Amid Fading Recovery Hopes

XRP price has extended its losses, trading below the $1.40 mark. The cryptocurrency is currently consolidating these losses, encountering immediate resistance near $1.4320 and $1.450. Previously, XRP failed to sustain its position above $1.450, mirroring declines seen in Bitcoin and Ethereum. The price dropped below $1.420 and $1.4150, entering a short-term bearish territory. A low point was reached at $1.3816, after which a minor upward movement occurred. XRP is trading below both $1.420 and its 100-hourly Simple Moving Average. A bearish trend line is forming on the hourly chart, with resistance at $1.4620. The price could continue to fall if it remains below $1.4650. Key resistance levels to watch are $1.4620 and potentially $1.50 if the initial hurdle is cleared. Conversely, failure to break $1.4620 could lead to a fresh decline, with initial support at $1.3980 and major support at $1.3850. A break below $1.3850 might send XRP towards $1.3620 and lower.