XRP Price Falls Below $2.20, Faces Resistance at $2.150 Level

XRP price is experiencing a correction and has tested the $2.080 support zone.

The price is trading below $2.120 and the 100-hourly Simple Moving Average.
A bullish trend line supports the price at $2.080 on the XRP/USD hourly chart.
To initiate another increase, XRP needs to clear $2.150.

Current Situation

XRP failed to surpass $2.20, leading to a decline below the $2.150 mark. It has underperformed compared to Bitcoin and Ethereum. The price fell beneath the 61.8% Fib retracement level from the $2.032 low to the $2.193 high, with bulls active near $2.080.

A resistance could occur at $2.120 if a fresh upward move begins. Breaking past $2.150 might allow a test of $2.20. Surpassing $2.20 could lead to potential targets at $2.250 and $2.320.

XRP Price

Potential for Further Decline

If XRP doesn't clear $2.120, it may decline further. Initial support lies at $2.080, followed by $2.070 and the 76.4% Fib retracement level. Falling below $2.070 could lead to a drop toward $2.050 and potentially $2.020.

Technical Indicators

MACD: Gaining pace in the bearish zone for XRP/USD.
RSI: Below the 50 level for XRP/USD.
Major Supports: $2.080, $2.050.
Major Resistances: $2.120, $2.150.