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XRP Price Faces Resistance at $1.920 Amidst Decline
XRP is experiencing a price correction after an initial increase above $1.920. It tested the $1.880 zone and is now trading below $1.90, along with the 100-hourly Simple Moving Average.
- A declining channel or bullish flag pattern is forming with resistance at $1.9250 on the hourly chart.
- The price might face resistance near $1.90 in case of a fresh upward move.
- Major resistance levels are identified at $1.920 and $1.950. Clearing these could push the price towards $2.00 and possibly $2.050.
- If unable to clear $1.920, XRP could decline with support near $1.8650 and $1.8420.
- Further declines could see the price moving toward $1.770.
Technical indicators show:
- Hourly MACD is gaining momentum in the bearish zone.
- Hourly RSI is below the 50 level, indicating potential downward pressure.
