XRP Price Declines Below $2.90 Amid Bearish Trend
XRP's price has entered a decline below $2.90, struggling near the $2.820 level.
- XRP is trading below $2.90 and the 100-hourly Simple Moving Average.
- A bearish trend line is forming with resistance at $2.880 on the hourly XRP/USD chart.
- The price may decline further if it remains below $2.820.
Price Movement
XRP failed to maintain above $3.00, similar to [Bitcoin](https://holder.io/coins/btc/) and [Ethereum](https://holder.io/coins/eth/), entering a bearish zone after falling below $2.950 and $2.920. It reached a low of $2.8320 before attempting recovery.
Resistance levels are at $2.880 and $2.920. A move above $2.920 could lead to $2.950.
Potential for Further Decline
If unable to surpass the $2.920 resistance, XRP might see further declines:
- Initial support is at $2.820, with major support at $2.80.
- A break below $2.80 could target $2.7250, then possibly $2.650 or $2.60.
Technical Indicators:
- MACD is gaining pace in the bearish zone.
- RSI is below 50, indicating weaker momentum.
Support Levels: $2.820, $2.80
Resistance Levels: $2.920, $2.950