XRP Price Reversal at $1.40, Gains Wiped as Bears Return

XRP experienced a price correction after failing to break through the $1.40 resistance zone. The cryptocurrency is currently trading below $1.340 and its 100-hourly Simple Moving Average. A bearish trend line is forming on the hourly chart, presenting resistance around $1.3550. A successful consolidation above $1.3550 could trigger a fresh upward move for XRP. Initial resistance lies at $1.3450, with the primary hurdle at $1.3550. Clearing this level could lead to tests of $1.3650 and potentially $1.3880. Further gains might target the $1.40 and $1.4250 resistance levels. However, if XRP fails to overcome the $1.3450 resistance, a decline is possible. Immediate support is found near $1.3220, followed by $1.3180. A break below $1.3180 could send XRP towards $1.3110 and then to major support around $1.2880. The hourly MACD is currently in the bearish zone, and the RSI is below the 50 level.