#Ripple 📉 Ripple (
$XRP ): Breakout canceled. How deep will the price fall this week?
XRP could not hold above $1.4 — the bullish breakout turned out to be a trap, the initiative was completely seized by sellers. What to expect next? Let's analyze the key levels and the chart.
📊 Key levels for this week:
🛡️ Support: $1.2, $1.0
🛑 Resistance: $1.4, $1.6, $2.0
🔍 What went wrong? Chart analysis
1. False breakout (Bull Trap)
Initially, XRP successfully broke out of the blue pennant, which caused a wave of optimism. However, the joy was premature: the price not only returned inside the figure, but also broke through the important support at $1.4. As long as this level remains resistance, the bears will aim much lower.
2. Sellers are increasing their volume
The fall below $1.4 was accompanied by increased trading volume, which confirms the strength of the bearish momentum. If the price goes beyond the lower border of the blue pennant, it will be difficult to contain the pressure. The buyers will try to impose the first serious fight in the $1.2 area. If it is not possible to hold it, a direct road to 1 will open.
3. Signal from indicators: Weakness of MACD
Even during the initial rally, the MACD indicator formed lower highs on the histogram (bearish divergence). This was the first bell that buyers were running out of strength. Now the MACD moving averages are bending down and preparing for a bearish crossover, which may drag the trend down.
⚠️Summary
The local trend has changed to bearish. While XRP is trading below $1.4, the priority remains for short positions with targets at $1.2 and $1.