XRP Price Declines Below $2.050, Faces Resistance at $2.10

XRP price is experiencing a decline below the $2.050 support level, currently consolidating with potential challenges at the $2.10 mark.

XRP declined below the $2.120 and $2.050 levels.
Current trading is below $2.10 and the 100-hourly Simple Moving Average.
A short-term declining channel has formed with resistance at $2.0680 on the hourly chart.
If unable to surpass the $2.10 resistance, further losses may occur.

XRP Price Recovery Efforts

The price fell below $2.00, reaching a low of $1.960 before attempting a recovery. It briefly moved above $2.00 and $2.020, surpassing the 23.6% Fibonacci retracement level of the drop from $2.235 to $1.960. However, bearish momentum remains below the $2.10 resistance.

Key resistance levels are:

$2.10, near the 50% Fibonacci retracement level.
$2.120, if surpassed, could lead to a rise toward $2.180 or $2.235.

Potential for Further Decline

If XRP does not clear the $2.10 resistance, it could face another decline. Key support levels include:

$2.00
$1.960
Should the price drop below $1.960, it might fall toward $1.920 and subsequently to $1.90.

Technical indicators show a weakening MACD in the bearish zone and an RSI above 50.