XRP Price Declines Below $2.30 Amid Bearish Signals

XRP price has declined below the $2.420 resistance zone and shows bearish signs, potentially dropping below $2.30.

XRP failed to break above $2.420 and is now trading under $2.40 and the 100-hourly Simple Moving Average.
A bearish trend line with resistance at $2.35 is forming on the hourly chart.
If the price breaks the $2.30 support level, further losses may occur.

XRP Price Decline

The price has dropped below $2.40 and tested the $2.30 zone, forming a low at $2.301. It is currently consolidating losses and remains below the 23.6% Fibonacci retracement level of its recent decline from $2.478 to $2.301.

Current trading is below $2.38 and the 100-hourly SMA. Resistance is anticipated near $2.35. Major resistance levels are at $2.3850 (50% Fibonacci) and $2.420.

If XRP does not surpass $2.40, it may decline further. Initial support is at $2.30, with major support following at $2.20. A close below $2.20 could lead to further declines toward $2.120 and $2.050.

Technical Indicators

Hourly MACD indicates increasing bearish momentum.
Hourly RSI is below 50.
Major Support Levels: $2.30 and $2.20.
Major Resistance Levels: $2.40 and $2.420.