XRP Price Tumbles Under $1.22 As Market Sentiment Turns Sour

XRP price extended losses and traded below $1.220. The price is now consolidating losses and faces hurdles near $1.2350 and $1.250.

XRP price started another decline and traded below the $1.250 zone. The price is now trading below $1.2350 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.2850 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below $1.250. XRP Price Dips Below $1.250

XRP price failed to stay above $1.30 and extended its decline, like Bitcoin and Ethereum. The price declined below $1.2850 and $1.2650 to enter a short-term bearish zone.

The price even extended losses below $1.220. A low was formed at $1.1924, and the price is now consolidating losses well below the 23.6% Fib retracement level of the downward move from the $1.3640 swing