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XRP extended its losses and traded below $1.40, consolidating after falling into a short-term bearish zone. The price is currently below the $1.40 level and the 100-hourly Simple Moving Average, with nearby resistance around $1.3980 and $1.4050.
XRP failed to hold above $1.4120 and continued lower, dropping below $1.4050 and then below $1.40. The selloff extended beneath $1.3880, with a low formed at $1.380. The price is now consolidating losses below the 23.6% Fibonacci retracement level of the move from the $1.4570 swing high to the $1.3800 low.
On the hourly chart for the XRP/USD pair, a bearish trend line is forming, with resistance at $1.3920. If XRP attempts a recovery, it may face resistance near $1.3920 before any further upside.
If XRP fails to clear the $1.40 resistance zone, it could begin another decline. A break below $1.3680 would increase the risk of further downside, with potential movement toward $1.350. Below the $1.3320 zone, the price could extend lower toward $1.320.
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