XRP (XRP) dropped to a low of $1.50 before attempting a recovery that now faces key resistance levels at $1.6250 and $1.650, with technical indicators showing the token trading below both the $1.6220 mark and its 100-hourly Simple Moving Average.
What Happened: XRP Tests Recovery After Decline
The cryptocurrency extended losses alongside Bitcoin (BTC) and Ethereum (ETH), falling below $1.5250 and $1.520 before briefly spiking under $1.5120. Data from exchanges shows a bearish trend line forming with resistance at $1.6250 on the hourly XRP/USD chart.
The token moved above $1.550 and attempted to settle above the 23.6% Fibonacci retracement level of the downward move from the $1.93 swing high to the $1.50 low. That attempt failed.
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Why It Matters: Key Levels Define Next Move
A close above $1.650 could push the price toward $1.7190, which represents the 50% Fibonacci retracement level. Further resistance sits at $1.770, $1.80, $1.8250, and $1.850.
Should XRP fail to clear $1.6250, support levels at $1.550, $1.5250, and $1.4650 become targets.
The hourly MACD is losing momentum in bearish territory while the RSI has climbed above 50.
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