XRP (XRPUSD) held on to its recent gains in intraday trading as the cryptocurrency attempted to recover part of its previous losses. However, the primary short-term downtrend remains in control, with price action continuing to follow a descending trendline that reinforces the prevailing bearish bias. Negative pressure also persists as XRP trades below its 50-period Simple Moving Average (SMA), which is acting as dynamic resistance and limiting the prospects for a sustained recovery in the near term. Meanwhile, momentum indicators are beginning to form a bearish divergence after reaching extremely overbought levels relative to the price action, with a bearish crossover also starting to emerge.

Therefore, our outlook remains bearish for the cryptocurrency's upcoming intraday trading sessions, as long as resistance at $1.0400 remains intact. Under this scenario, the price is expected to target the support level at $0.9800.

Today's price forecast: Bearish.