XRP Price Corrects Below $2.20 Support Level

XRP is experiencing a downside correction, trading below the $2.20 threshold and consolidating around $2.150.

The price is currently below $2.150 and the 100-hourly Simple Moving Average.
A bullish trend line was breached at the $2.150 support level on the hourly chart.
Potential support is identified near $2.020, where buying interest may emerge.

XRP Price Movement

After reaching a high of $2.2294, XRP's price declined below key levels, including $2.20 and $2.15. It fell past the 23.6% Fibonacci retracement level from the upward move starting at $1.910 to the recent high.

Resistance levels are as follows:

$2.150
$2.20
$2.220
Potential gains could reach $2.320 if resistance breaks.

Further increases might target $2.40 or $2.450, with a significant hurdle at $2.50.

Downside Risks

If XRP cannot surpass the $2.20 resistance, it risks further declines:

Initial support is at $2.070 or the 50% Fibonacci retracement level.
Key support below is at $2.020, with potential further decline towards $2.00 and then $1.920 if breached.

Technical indicators show bearish momentum, with MACD in a negative zone and RSI below 50.