XRP (XRP) reclaimed the $1.40 level after finding support near $1.3680 and broke above a bearish trend line on the hourly chart, with Kraken data showing the token now consolidating just above $1.4050 as traders watch the $1.420 resistance for confirmation of a broader recovery.
What Happened: XRP Reclaims $1.40
The token bounced from its $1.3668 low and climbed past $1.3950 and then $1.40, moving back above the 100-hourly Simple Moving Average. It also cleared the 50% Fibonacci retracement of the decline from the $1.4423 swing high.
Buyers pushed through a bearish trend line that had capped gains at $1.380 on the XRP/USD hourly chart.
The advance stalled near $1.4140, which aligns with the 61.8% Fibonacci retracement of that same downward move.
A sustained close above $1.420 would open the path to $1.4295 and potentially $1.4420. Failure to clear that zone could send the price back toward $1.3920 and $1.3840, with a break below those levels exposing the $1.350 area.
The hourly MACD is gaining pace in bullish territory, and the RSI sits above 50. The recovery mirrors similar upward moves in Bitcoin (BTC) and Ethereum (ETH).
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Why It Matters: Key Resistance Ahead
The $1.420 level is the line that separates a consolidation phase from a genuine breakout attempt. If XRP settles above it, the next targets sit at $1.4295 and $1.4420, with $1.4650 and $1.50 further out.
On the downside, losing $1.3840 would shift momentum back to sellers and put the $1.3680 support and ultimately $1.3120 in play. The trend line break and favorable technical indicators suggest the short-term bias leans higher, but the token needs to clear $1.420 to confirm it.
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