XRP Price Declines Below $2.050, Faces Resistance Near $2.020

XRP price is experiencing a decline, trading below the $2.050 level and facing resistance around $2.020.

XRP has started a decline beneath the $2.050 zone.
Current trading price is below $2.020 and the 100-hourly Simple Moving Average.
A bearish trend line is forming with resistance at $2.020 on the hourly chart.
The price might increase if it closes above the $2.050 resistance.

XRP Price Dynamics

The price fell below the $2.120 support, similar to movements in Bitcoin and Ethereum. It tested the $1.920 support, reaching a low of $1.910 before beginning to recover.

Currently, XRP is trading below $2.020. Resistance is noted near $2.020, with major resistance levels identified as:

$2.050 (50% Fib retracement from $2.178 to $1.910)
$2.080
$2.120
$2.150
$2.20
$2.250

Potential for Further Decline

If XRP does not surpass the $2.050 resistance, it may face another drop.

Initial support levels are at $1.950 and $1.920.
A break below $1.920 could lead to a decline towards $1.880.
Next major support is near the $1.840 zone.

Technical indicators show the MACD is losing momentum in the bearish zone and the RSI is below 50.