XRP Price Declines Below $2.120, Faces Resistance at $2.10

XRP price is experiencing a decline below the $2.120 level and may face challenges near $2.10.

The decline began after failing to surpass the $2.2350 resistance.
XRP is currently trading below $2.120 and the 100-hourly Simple Moving Average.
A break occurred below a short-term triangle support at $2.080 on the XRP/USD hourly chart.
Further losses are likely if XRP cannot breach the $2.120 resistance.

XRP Price Update

After an attempt to recover above $2.120 and $2.20, XRP peaked at $2.2350 before declining sharply. A new weekly low was set at $1.9832, with the price consolidating below $2.10.

Key resistance levels are identified as follows:

$2.070
$2.10
$2.1750

If XRP breaks the $2.1750 resistance, it could target $2.20 or even $2.40. The major hurdle for bulls lies at $2.50.

Potential Decline Risks

If XRP fails to clear the $2.10 zone, initial support is around $2.020, followed by $2.00. A close below $2.00 could lead to further declines toward $1.980 and then $1.950.

Technical indicators show:

Hourly MACD indicates increased bearish momentum.
Hourly RSI is below 50.
Major support levels: $2.020 and $2.00.
Major resistance levels: $2.10 and $2.1750.