XRP price extended losses and traded below $1.30, highlighting significant challenges for bulls in the current market climate. After a sharp decline, the cryptocurrency is now consolidating its losses, but it faces hurdles near the $1.30 and $1.350 levels. XRP's recent performance has showcased a bearish trend, particularly as it struggled to maintain a position above $1.50.

The situation became more precarious as XRP dipped over 15%, failing to hold above the critical $1.450 and $1.40 thresholds. This triggered a series of sell-offs, pushing the price into a short-term bearish zone, where it even fell below $1.250. A recent low was recorded at $1.1356, but the price has since shown minor upward movement above the 23.6% Fibonacci retracement level of its previous downward trajectory.

Currently, XRP is trading below $1.30 and the 100-hourly Simple Moving Average, indicating a bearish trend. Additionally, a key trend line is forming with resistance at $1.380 on the hourly chart of the XRP/USD pair. If XRP remains below $1.40, it could continue its downward trajectory.

Looking ahead, should there be a recovery move, the price might face significant resistance near the $1.30 level. The first major resistance point lies at $1.320, and a clear close above this level could propel the price towards the $1.380 trend line and the 50% Fibonacci retracement level of the decline from the $1.6320 swing high to the $1.1350 low.

However, if XRP fails to breach the $1.320 resistance zone, it risks initiating another decline. Initial support on the downside is near the $1.240 level, with the next significant support set at $1.2250. A close below $1.2250 could catalyze further declines toward $1.20, with additional support near the $1.1650 zone, below which the price could slide toward $1.150.

Technical indicators paint a challenging picture for XRP. The hourly MACD indicates weakening momentum in the bearish zone, while the Relative Strength Index (RSI) for XRP/USD is currently below the 50 level, suggesting bearish market sentiment. Major support levels remain at $1.220 and $1.20, while resistance levels are closely watched at $1.320 and $1.380.

For retail holders, this tumultuous phase comes at a time when institutional interest in XRP is growing. The cryptocurrency has often been misunderstood as merely a retail-traded asset, but its engineering and potential for adoption make it a contender for institutional investment. As XRP navigates these price fluctuations, the focus remains on how retail holders position themselves ahead of potential institutional adoption.

In conclusion, XRP faces significant barriers in its quest for recovery, with critical resistance and support levels dictating its near-term performance. Bulls must clear the hurdles at $1.320 and $1.380 to regain momentum, while bears will be keen to capitalize on any failures to hold these levels. As the market continues to evolve, all eyes will be on XRP’s price movements, with a keen interest in how retail and institutional dynamics play out in this challenging landscape.