XRP Price: Drops 15% to $1.50 as Bears Take Control – What’s Next?

TLDR

• XRP price fell 13-15% over the past week, dropping below $1.60 and reaching a low of $1.50
• The token faces resistance at $1.60-$1.65, with a bearish trend line preventing upward movement
• Key support levels sit at $1.65-$1.70 and $1.50, which bulls must defend to prevent further declines
• Technical indicators show bearish momentum with no bullish divergence signals present
• Price must reclaim the $2.20-$2.30 resistance zone to shift from bearish to neutral or bullish outlook

XRP price has entered a sharp correction phase, trading around $1.59 after dropping 13-15% over the past week. The token fell below the $1.60 level and briefly touched a low of $1.50 before consolidating.

The recent decline pushed XRP below its 100-hour Simple Moving Average. A bearish trend line has formed with resistance at $1.65 on the hourly chart. The price failed to maintain support above $1.80 and quickly lost ground, mirroring broader market weakness seen in Bitcoin and Ethereum.

Bulls attempted a recovery above $1.55, clearing the 23.6% Fibonacci retracement level. However, the price remains stuck below $1.60. Any fresh upward movement will face immediate resistance at the $1.60 level, followed by the major barrier at $1.65.

A close above $1.65 could push XRP toward $1.720, representing the 50% Fibonacci retracement level. Beyond that, resistance levels sit at $1.770, $1.80, and $1.835. The next major hurdle for bulls stands near $1.90.

Bearish Momentum Dominates Technical Indicators

Technical analysis reveals strong bearish pressure across multiple timeframes. The EWI_LB oscillator has crossed deeply into negative territory, with all key elements below zero. This indicates a reduction in bullish force and an increase in selling momentum.

No bullish divergence is present on the charts, meaning bearish risk remains active. The current pullback period has exceeded the average duration, putting the market in a precarious position if support levels fail to hold.

Critical Support Zones Under Pressure

The $1.65-$1.70 range represents a critical support zone where buyers previously entered the market. This area absorbed selling pressure in December and January, with long wicks showing buyer support. However, the current relief rally from this support area is not a confirmed reversal.

If XRP fails to clear the $1.60 resistance zone, another decline could begin. Initial support on the downside sits at $1.540, followed by $1.515. A break below $1.515 could send the price back toward $1.50, with the next major support at $1.465.

XRP has reached a historical demand zone, but momentum is slowing. The token moved out of its previous balanced ranges into a strong downtrend. Areas that were once in equilibrium have now become supply levels, blocking advances.

For XRP to shift from bearish to neutral or bullish outlook, it must hold current support levels and form higher lows. More importantly, the price needs to close above the $2.20-$2.30 resistance range. Until that happens, any increases are likely temporary bounces within the larger downtrend. The $1.65 level remains critical for bulls to defend against further losses.

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