XRP Price Faces Bearish Trend, May Fall Below $1.95

XRP Price Analysis

  • XRP is experiencing a recovery wave above $1.92 but remains below $2.00.
  • A bearish trend line is forming with resistance at $2.030 on the hourly chart.
  • The price could decline further if it falls below $1.95.

Current Situation

  • XRP rose above $1.950 and $1.980, entering a short-term positive zone.
  • It surpassed the 50% Fib retracement level from $2.065 to $1.847 but failed to break $2.020 resistance.
  • The price is now trading under the 100-hourly SMA, facing resistance near $2.00 and $2.020 levels.

XRP Price

Resistance Levels

  • A close above $2.020 may push the price to $2.065 and then $2.10.
  • Further gains could target $2.150 and possibly $2.20.
  • The next major hurdle might be around $2.250.

Potential Decline

  • If XRP fails to clear $2.020, a decline might start.
  • Initial support is at $1.950, followed by $1.9320.
  • A break below $1.9320 could lead to declines toward $1.850, then $1.820, or even $1.750.

Technical Indicators

  • Hourly MACD: Gaining pace in the bearish zone.
  • Hourly RSI: Below the 50 level, indicating bearish momentum.
  • Major Support Levels: $1.950, $1.9320.
  • Major Resistance Levels: $2.00, $2.020.