XRP price started to decrease below the $2.080 zone. The price is recovering some losses and may face some challenges near the $2.150 level.
- XRP price dropped again after it failed to pass the previous $2.20 resistance zone.
- At present, the price is now trading under $2.120 and also under the 100-hourly Simple Moving Average.
- At $2.10 on the hourly chart of the XRP/USD pair (information source from Kraken), there is a linked bearish trend line that forms with resistance.
- If the $2.150 resistance zone is not clear, then the pair may face losses.
XRP Price Experiences Resistance
XRP price has failed to respond to the downturn, like Bitcoin and Ethereum, XRP price has also failed to continue greater than the $2.20 resistance zone. The price has decreased below the $2.150 and $2.10 levels.
The pair still decreased below the $2.050 zone. The low was made at $2.023, and the price is currently continuously trying to bounce back. There was a move greater than the $2.050 level.
The price has passed the 23.6% Fib retracement level of the current decrease from the $2.215 high to the $2.023 low.
At present, the price is now trading under $2.120 and also under the 100-hourly Simple Moving Average. On the upper side, the price may experience resistance close to the $2.10 level. At $2.10 on the hourly chart of the XRP/USD pair, there is a linked bearish trend line that forms with resistance. According to the recent drop from the $2.215 high to the $2.023 low, the trend line is trending near the 50% Fib retracement level.
The first important resistance is close to the $2.150 level, and the next resistance is close to $2.1680. A clear move above the $2.1680 resistance may send the price to the $2.20 resistance. If the upward movement continues then we see profits be sent to the $2.220 resistance or even $2.250 in the closed term. The upcoming great hurdle for the Bulls may be $2.2880.
Another Decline?
If XRP fails to pass the $2.120 resistance zone, then another drop will start. The first support on the downside is close to the $2.050 level, and the next support is around the $2.020 level.
According to the reports, if there is a downturn break and a close below the $2.020 level, the price may continue to decrease in the direction of $2.00 support. The upcoming great support is close to the $1.880 zone.
XRP Technical Analysis
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently greater than the 50 level.
Hourly MACD (Moving Average Convergence Divergence) – The MACD for XRP/USD is currently at a decreasing pace in the bearish zone.
- $2.050 and $2.020 – Major Support Levels.
- $2.120 and $2.150 – Major Resistance Levels.
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