XRP Corrects Below $1.40 Amid Broader Market Lethargy
Ripple's XRP token has seen a correction in recent trading, falling below $1.40 on Tuesday after a brief run towards $1.50 the previous day.
This decline is part of a broader lethargic outlook in the cryptocurrency market, with market participants shifting their attention to the upcoming Senate vote on the crypto CLARITY Act and the Federal Reserve's expected interest rate hike on Wednesday.
Despite this pullback, XRP remains above key Exponential moving averages (EMAs), maintaining a supported medium-term structure. However, the Relative Strength Index (RSI) near 55 suggests moderating bullish momentum, while the Moving Average Convergence Divergence (MACD) stays in negative territory.
A sustained recovery above $1.40 would help to stabilize XRP's bullish outlook and increase the odds of a short-term breakout. However, trading below this level could keep XRP range-bound, with demand at $1.30 cushioning against extended losses.