XRP price extended losses and traded below $1.20. The price is now consolidating losses and faces hurdles near $1.1920 and $1.1950.

• XRP price started another decline and traded below the $1.20 zone.
• The price is now trading below $1.20 and the 100-hourly Simple Moving Average.
• There is a bearish trend line forming with resistance at $1.1950 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could continue to move down if it stays below $1.20.

XRP Price Nosedives Below $1.20

XRP price failed to stay above $1.20 and extended its decline, like Bitcoin and Ethereum. The price declined below $1.1950 and $1.1920 to enter a short-term bearish zone.

The price even extended losses below $1.180. A low was formed at $1.1401, and…