XRP Price Faces Resistance Near $2.165 Following Recovery from $2.080

XRP Price Analysis

XRP found support at $2.080 and is attempting to recover.
The price faces resistance near $2.1650, trading below $2.170 and the 100-hourly Simple Moving Average.
A bearish trend line forms with resistance at $2.160 on the XRP/USD hourly chart.
A close above $2.1680 could lead to further increases.

Price Recovery Status

XRP experienced a correction below $2.20 and $2.150, declining to $2.0780 before recovering. The price has risen past $2.10, clearing the 23.6% Fibonacci retracement level of the drop from $2.2579 to $2.078.

Resistance remains active near $2.1650, with significant resistance at $2.1680, aligning with the 50% Fibonacci retracement level. The next target is $2.20, potentially leading to $2.220 or higher if surpassed.

Potential Decline

If XRP does not break through the $2.160 resistance, it may retrace. Initial support levels are at $2.120 and $2.080, with critical support near $2.050 and $2.020 if the downward trend continues.

Technical Indicators

Hourly MACD shows decreasing bullish momentum.
Hourly RSI is above 50.
Major Support Levels: $2.120, $2.080.
Major Resistance Levels: $2.1680, $2.20.