XRP Price Rebound Fizzles Out, Downside Pressure Returns Fast

XRP price started a downside correction from the $1.3550 zone. The price is now consolidating and might aim for another increase if it stays above the $1.30 zone. XRP price started a downside correction after it failed to clear the $1.3550 zone. The price is now trading below $1.3220 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.3380 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.340. XRP Price Holds Support XRP price started a decent upward move above $1.3220 and $1.3250, like Bitcoin and Ethereum. The price gained pace for a clear move above the $1.3420 resistance. A high was formed at $1.3566, and the price started a downside correction. There was a move below $1.350 and $1.340. The price dipped below the 50% Fib retracement level of the upward move from the $1.2786 swing low to the $1.3566 high. However, the bulls were active above $1.3080 and the 61