XRP has seen a significant downturn recently, breaking below the crucial $1.50 support level. This decline has raised concerns among investors, with bearish sentiments growing stronger as the price struggles to regain its footing. Currently, XRP is hovering below $1.50 and the 100-hourly Simple Moving Average, indicating a potential continuation of the downtrend.

The price action has been closely monitored, especially after it failed to hold above the $1.5320 mark. This failure to maintain higher levels has led to a bearish trend, drawing parallels with the movements of Bitcoin and Ethereum. As XRP dipped below $1.5250, a short-term bearish zone was established, with the price even hitting a low of $1.4330. This decline has left traders on edge, as further losses could follow if key support levels are breached.

Currently, there’s a bearish trend line forming with resistance at $1.5850. The market dynamics suggest that any recovery attempts will face stiff resistance around the $1.480 level. Moreover, the first major resistance is positioned at $1.5320, which coincides with the 50% Fib retracement level of the recent downward move from the $1.6322 swing high to the low of $1.4330. A close above this level would be crucial for bulls looking to regain control.

If XRP fails to break above the $1.5320 resistance, the outlook may shift towards a fresh decline. Initial support is seen around the $1.4320 level, with the next major level resting at $1.4250. A decisive break below this threshold could lead to further declines, potentially pushing the price down to $1.412. Such movements would only heighten bearish sentiment in the market.

Technical indicators are also painting a grim picture for XRP. The hourly MACD is gaining momentum in the bearish zone, signaling that selling pressure may persist in the near term. The hourly RSI has dipped below the 50 level, further reinforcing the bearish outlook. As traders keep a close watch on these indicators, the sentiment remains cautious.

While XRP attempts to consolidate losses, the market's focus will shift to the key resistance and support levels. The next major hurdle for bulls is the $1.60 level, which, if crossed, could open the door towards $1.620 and eventually $1.650. However, until a clear move above this resistance is established, the bearish trend may continue to dominate.

In summary, XRP's recent price action has left traders wary. With the support at $1.50 cracked, the focus now shifts to whether bulls can mount a recovery or if bears will continue to exert pressure. The upcoming trading sessions will be crucial in determining the direction of XRP, as both technical indicators and market sentiment play pivotal roles in shaping the price dynamics.