XRP Price Declines Below $2.20, Faces Resistance at $2.120

XRP price is experiencing a decline, currently trading below key resistance levels.

XRP has declined below $2.20, consolidating above $2.150 and above the 100-hourly Simple Moving Average.
A break occurred below the bullish trend line with support at $2.192 on the XRP/USD hourly chart.
The price tested the $2.050 zone and is below the 23.6% Fibonacci retracement level of the recent downward move.
Resistance levels are identified at $2.120, $2.150, and $2.1750.

XRP Price Analysis

XRP failed to rise above $2.220 and started a decline, similar to trends seen in Bitcoin and Ethereum. Key points include:

Price consolidation is taking place below the critical $2.120 level.
Major resistance near $2.1750 may lead to upward movement toward $2.200 and $2.220.
If resistance at $2.150 is not cleared, further declines could occur.
Initial support is at $2.050, followed by significant support at $2.020 and $2.00.

Technical indicators show bearish momentum, with the MACD gaining pace in the bearish zone and RSI below 50.