XRP Price Falls Below $2.10 Amid Bearish Trend and Resistance

XRP price experienced an increase above $2.120 but is now facing challenges to maintain a positive trend.

XRP corrected downwards, testing the $2.080 level.
Currently trading below $2.120 and the 100-hourly SMA.
A bearish trend line shows resistance at $2.110 on the hourly XRP/USD chart from Kraken.
Clearing the $2.150 resistance could initiate another upward move.

XRP Price Movements

The price dropped from the $2.220 zone, similar to movements in Bitcoin and Ethereum, falling below $2.20 and $2.150 into consolidation.

XRP fell past the 50% Fib retracement of its rise from $1.984 to $2.220, with resistance forming around $2.110. Despite this, support held above $2.080.

Trading below $2.10 and the 100-hourly SMA, the price faces resistance near $2.110.

XRP Price

Major resistance lies at $2.150; surpassing it could lead to testing $2.220.
A breakthrough of $2.220 might push the price towards $2.2850, with further gains potentially reaching $2.350.
The next significant hurdle for bulls is around $2.420.

Potential Decline?

If XRP can't clear the $2.150 zone, a decline may occur.
Initial support is at $2.080, aligning with the 61.8% Fib retracement from $1.984 to $2.220.
Further support is seen at $2.040; breaking below could lead to a drop towards $2.00.
An extended decline might target $1.9850 and then $1.920.

Technical Indicators:

Hourly MACD: Increasing pace in the bearish zone.

Hourly RSI: Below 50.

Major Support Levels: $2.080, $2.040.

Major Resistance Levels: $2.110, $2.150.