XRP Price Declines Below $1.950, Faces Resistance at $1.920
The XRP price is experiencing a decline, struggling below key resistance levels.
- XRP's price dropped below the $1.950 mark.
- Currently trading under $1.90 and the 100-hour Simple Moving Average.
- A bearish trend line presents resistance at $1.980 on the hourly chart.
- Potential further decline if it falls below $1.850.
Current Price Movement
XRP attempted a recovery above $2.020 but fell below $2.00 and $1.950. It broke through the $1.920 support, forming a low at $1.8550, maintaining bearish momentum below the 23.6% Fibonacci retracement from $2.047 to $1.8550.
If an upward move occurs, resistance may emerge around $1.90, with significant hurdles at $1.920 and $1.950. A breakthrough past $1.980 could propel the price toward $2.050 or higher.
Potential for Further Decline
Failure to surpass the $1.90 resistance could trigger another drop. Initial support is found near $1.8550, with further support at $1.820. A break below $1.820 may lead the price to fall towards $1.7650, with subsequent support at $1.7320 and potentially $1.7050.
Technical Indicators:
- Hourly MACD: Increasing bearish momentum.
- Hourly RSI: Below 50, indicating weakness.
- Key Support Levels: $1.850, $1.820.
- Key Resistance Levels: $1.950, $1.980.