Technical outlook: XRP at risk of a deeper pullback

XRP hovers around $1.35 amid a strong bearish outlook. The price sits below a descending trendline resistance and trades below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), clustered between $1.58 and $2.03, underscoring a dominant overhead supply zone.
At the same time, the SuperTrend at $1.61 remains well above spot and continues to track lower, keeping downside pressure intact. The Moving Average Convergence Divergence (MACD) remains marginally above its signal while green histogram bars contract on the daily chart, suggesting modest momentum. This outlook aligns with a corrective, rather than impulsive tone.
Meanwhile, initial resistance emerges at the trendline around $1.40, followed by Monday’s high at $1.42. A daily close above $1.42 would open the way toward the 50-day EMA around $1.58 as the next upside barrier. On the downside, immediate support sits at Monday’s low of $1.33, with a break exposing the February support at $1.12.