XRP Price Declines Below $2.20 Support, Faces Risk of Further Losses

XRP Price Analysis

XRP price declined below $2.250 and $2.20 support levels.
Current trading is below $2.220 and the 100-hourly Simple Moving Average.
A bearish trend line has formed with resistance at $2.20 on the hourly chart.
A close above $2.30 is necessary to avoid further decline.

Price Movement Details

XRP failed to maintain levels above $2.350 and dropped below the $2.25 and $2.20 support levels, entering a bearish zone. The price reached a low of $2.0220 and is currently struggling to remain above $2.0.

Trading is below the 23.6% Fib retracement level from the $2.363 swing high to the $2.022 low.
Resistance may occur near $2.120 and $2.20, with significant resistance at $2.30.
A break above $2.30 could lead to prices rising towards $2.350 and potentially $2.420 or $2.450.
The next major hurdle for upward movement is $2.50.

Potential Further Losses

If XRP does not surpass the $2.20 resistance, it may see further declines:

Initial support near $2.020.
Major support at $2.00; a break below this level may lead to a drop towards $1.9650.
Further support exists around $1.880.

Technical Indicators

MACD indicates a strengthening bearish momentum.
RSI is below 50, signaling bearish conditions.
Key support levels: $2.020 and $2.00.
Key resistance levels: $2.20 and $2.30.