XRP Price Declines Below $2.150 as Bears Maintain Control
XRP has begun a decline from the $2.20 resistance zone, currently consolidating below $2.150 and the 100-hourly Simple Moving Average.
- Price declined after failing to surpass the $2.20 resistance.
- Trading is below the $2.150 and $2.120 levels.
- A bearish trend line is forming with resistance at $2.120.
- If it does not clear $2.20, further losses are likely.
XRP Price Overview
The price reacted downwards after failing to maintain above $2.20, dropping below $2.150 and $2.120. The bears pushed the price below the 50% Fibonacci retracement level from the recent swing low of $2.023 to a high of $2.199. Support is being tested near $2.10, protecting the 61.8% Fibonacci retracement level.
Resistance levels are identified at $2.120 and $2.150, with a major hurdle at $2.20. A breakout above $2.20 could push the price towards $2.240 or higher.
Potential Further Decline
If XRP cannot overcome the $2.150 resistance, it may experience another decline. Initial support is around $2.10, with further support at $2.0650. A break below $2.0650 could lead to a decline toward $2.020 and possibly the $2.00 zone.
Technical indicators show:
- Hourly MACD indicates increasing bearish momentum.
- RSI is below 50.
- Major support levels are at $2.10 and $2.050.
- Major resistance levels are at $2.120 and $2.20.