XRP Price Declines Below $2.320 with Risks of Further Losses
XRP Price Overview
- XRP price has declined from the $2.380 zone and is currently at risk of further losses below $2.280.
- It is trading below $2.3350 and the 100-hourly Simple Moving Average.
- A bearish trend line break occurred above $2.305 on the hourly chart of the XRP/USD pair.
- A dip below $2.280 could trigger another decline.
XRP Price Movements
Support was found around $2.2670, leading to a recovery wave. The price moved above the $2.320 and $2.350 resistance levels.
- The upward movement surpassed the 23.6% Fibonacci retracement level from $2.4768 to $2.2670.
- Bears remain active near the $2.360 level.
- Resistance is noted around $2.340.
- Further resistance levels include $2.360 and $2.3720, with a potential rise towards $2.40 or $2.450.
Potential Decline
If XRP does not clear the $2.360 resistance, another decline may occur.
- Initial support is at $2.280, followed by $2.260.
- A close below $2.260 could lead to declines toward $2.2320 and then $2.20.
Technical Indicators
- Hourly MACD indicates a bearish trend for XRP/USD.
- RSI is below 50.
- Major support levels are at $2.260 and $2.2320.
- Major resistance levels are at $2.340 and $2.3720.