XRP Price Consolidates Below $2.20 After Recent Decline

XRP is consolidating after a recovery wave from the $1.90 level but faces challenges at the $2.10 resistance zone.

XRP declined from the $2.250 resistance zone.
Current trading is below $2.20 and the 100-hourly Simple Moving Average.
A bearish trend line forms with resistance at $2.06 on the hourly chart.
Price may rise if it surpasses the $2.10 resistance.

XRP Price Movement

The price dropped below $2.10 and $2.050 support levels, hitting a low of $1.90. Currently, it is attempting to recover, having moved above $1.950 and $1.980 resistance levels. It surpassed the 23.6% Fibonacci retracement of the drop from $2.260 to $1.90.

Resistance near $2.060 exists due to a connecting bearish trend line. The first major resistance is around $2.080 or the 50% Fibonacci retracement. Further resistances include $2.120 and $2.1750, with potential upward movement toward $2.20 or $2.250.

Outlook for Decline

If XRP does not clear the $2.080 resistance, another decline may occur. Initial support is at $1.950, followed by significant support at $1.90. A close below $1.850 could lead to further declines towards $1.80 and potentially $1.750.

Technical Indicators:

Hourly MACD shows decreasing momentum in the bearish zone.
Hourly RSI is below 50.
Major Support Levels are $1.950 and $1.900.
Major Resistance Levels are $2.080 and $2.1750.