XRP key resistance approaching $1.38: Technical structure brewing a rebound, can it break through $1.50?

March 9 News: XRP’s recent trend remains in a correction phase. After failing to hold the key price zone, it continues to decline. Currently, the market is closely watching the resistance level around $1.38. If a breakout occurs, XRP may experience a phased rebound.

In the short-term, XRP previously failed to stay above $1.3740, entering a new correction range. The price successively broke below support levels at $1.3650 and $1.3550, and briefly dipped near $1.3217 to form a local low. The current price is in a consolidation phase, trading below the 100-hour simple moving average, with a cautious short-term trend.

Technical analysis shows that on the XRP/USD hourly chart, a clear downtrend line is forming, with current resistance around $1.3520. If the price attempts to rebound, this level may serve as the first resistance. Breaking above this trend line could improve market sentiment.

Furthermore, the $1.38 area is a key short-term resistance. Once the price stabilizes above this level, upward space will gradually open. The next significant resistance is expected near $1.3980, which is also close to the 50% Fibonacci retracement level of the previous high of $1.4739 and low of $1.3217.

If bullish momentum continues to strengthen and breaks through $1.3980, XRP could advance toward $1.42. If the rally persists, the price may further challenge resistance zones at $1.4250 and $1.45. The medium-term target widely watched by the market is around $1.4750 to $1.50.

However, downside risks remain. If the price fails to break above the $1.38 resistance zone, XRP may re-enter a correction channel. The first support is around $1.3365, followed by $1.3220. If this key support is broken, the price could fall further to $1.3120 or even $1.30.

Regarding technical indicators, the hourly MACD remains in a bearish zone but shows weakening momentum, indicating selling pressure is gradually easing. Meanwhile, the RSI has risen above 50, suggesting slight recovery in market sentiment.

Analysts point out that XRP is currently at a critical technical juncture. The short-term trend will depend on whether it can break through the $1.38 resistance zone. If bulls succeed, a new rebound could occur; otherwise, the price may continue to oscillate within the current range.