Over the past 24 hours, the price of XRP has dropped by 2.3%.
XRP on the hourly chart has shown break of the trendline support and has grabbed liquidity at $0.3853 price mark as price immediately bounced up. It has revisited support at $0.3901 and established hourly resistance at $0.3934. Price seems to be retesting the trendline support.
On the daily time frame, the situation is uncertain because the price produced a false breakout of the $0.4233 level. This indicates that XRP isn't prepared for further upward progress. If buyers are unable to gain the initiative, the price could fall within a few days to the nearest support level at $0.3860 and eventually fill order block at $0.3680 - $0.3725.
Meanwhile, taking a look at the weekly chart of XRP, market is still trading under the EMA 200 which signifies the power of bulls hasn't completely made a comeback yet. The one week fake-out which happened last October 2022 has yet to be retested by the buying power.
XRP is currently priced at $0.3932 at the time of writing.
