XRP Price Declines Below $2.10 with More Losses Possible

XRP price is experiencing a decline, trading below the $2.120 mark and showing signs of potential further losses.

XRP has declined below $2.150 and is consolidating above $2.00.
Price is below the 100-hourly Simple Moving Average.
A bearish trend line is forming with resistance at $2.10 on the hourly chart.
If XRP closes below $2.00, it may extend losses further.

XRP Price Overview

XRP's recent decline mirrors trends observed in Bitcoin and Ethereum. It traded below $2.150 to enter a bearish territory, registering a low at $2.036 before attempting consolidation. Resistance is present near the $2.10 level due to bearish sentiment around the 50% Fibonacci retracement from the recent high of $2.184.

Major resistance levels are identified at $2.1280 (61.8% Fib retracement) and $2.1850. A breakthrough of $2.1850 could lead to targets of $2.250 and potentially $2.320, with a significant hurdle at $2.50.

Potential for Further Declines

If XRP cannot surpass the $2.10 resistance, it faces initial support around $2.040, followed by critical support at $2.00. A breach and close below $2.00 may push the price towards $1.920 and then $1.840.

Technical indicators show:

MACD for XRP/USD is accelerating in the bearish zone.
RSI for XRP/USD is below the 50 level.
Support levels at $2.040 and $2.00.
Resistance levels at $2.10 and $2.1850.