XRP Falls Below $1.34 as Hourly Charts Signal Further Downside Risk

XRP Breaks Key Support

XRP fell below the $1.3420 zone on Wednesday after failing to hold above $1.3450, according to hourly chart data from Kraken. The decline mirrors weakness in Bitcoin and Ethereum and has broken through the 38.2% Fibonacci retracement level of XRP's move from its $1.2658 swing low to the $1.3642 high. The price is currently trading above the 100-hourly simple moving average and the $1.3150 level.

Technical Setup

A declining channel is forming on the hourly XRP/USD chart with resistance positioned at $1.3380. Should XRP stabilize above $1.3150, the first upside target sits at $1.3380, followed by $1.3420 and then $1.3500. A clear break above $1.3500 could open the door to tests of $1.3580 and $1.3650, with $1.3740 representing the next significant hurdle for buyers.

If selling pressure continues, XRP risks a move below $1.3150. The formation of the declining channel and the inability to hold recent resistance levels suggest bears maintain near-term control of price direction.

Why It Matters

For Traders

XRP traders holding positions above $1.3420 face deteriorating technicals; stops clustered near $1.3150 may trigger further liquidation if support breaks.

For Investors

A break below $1.3150 on daily charts could signal a longer corrective phase; monitor weekly support to assess trend integrity.

For Builders

Technical price action does not directly impact XRP protocol development or on-chain activity, though sentiment shifts sometimes precede fund flows to competing Layer 1 ecosystems.