XRP's price surge has cooled, trimming gains after an explosive rally. The cryptocurrency's momentum is now in question as it struggles to maintain its upward trajectory. The price has dipped below $1.60 and $1.550, indicating a potential correction phase. The key support level at $1.4880 has been breached, and the price is now trading above $1.450 and the 100-hourly Simple Moving Average (SMA). This suggests a shift in sentiment, with bulls now active above the $1.450 zone. However, the price might face resistance near the $1.50 level, and a fresh upward move could be met with resistance near $1.510. The next major resistance is at $1.5450, and a clear move above this could send the price towards $1.580. Any further gains might target the $1.620 resistance. The bulls' next major hurdle could be near $1.640. Conversely, if XRP fails to clear the $1.510 resistance, a fresh decline might ensue. Initial support is near $1.440, and the next major support is at $1.4240 or the 76.4% Fib retracement level. A breakdown below $1.4240 could lead to further price drops towards $1.40. The next major support is near $1.360, below which the price could continue its downward trend towards $1.340. Technical indicators like the MACD and RSI further support the bearish sentiment, with the MACD gaining pace in the bearish zone and the RSI below the 50 level. Major support levels are at $1.440 and $1.4240, while major resistance levels are at $1.50 and $1.510.
