XRP Price Rebound Fizzles Out, Downside Pressure Returns Fast

XRP price failed to break above $1.3550 resistance and has entered a downside correction, now trading below $1.3220 and the 100-hourly moving average. The cryptocurrency faces key resistance at $1.3380 with a bearish trendline, while support levels sit at $1.3080 and $1.30.

• →XRP failed to clear the $1.3550 resistance zone and started a downside correction from recent highs
• →The price is currently trading below $1.3220 and the 100-hourly Simple Moving Average
• →A bearish trend line is forming with resistance at $1.3380 on the hourly chart
• →Key support levels are located at $1.3080 and $1.30, with further decline possible if these break
• →Technical indicators show MACD gaining pace in bearish zone and RSI below 50 level