NewsBTC
15 hour ago
0 0

XRP Price Faces Resistance as Bears Target Further Decline

XRP price experienced a decline, trading below XRP $1.920 and struggling to remain above $1.980.

  • XRP dropped below the $1.920 zone, now trading under $1.9250 and the 100-hourly Simple Moving Average.
  • Two bearish trend lines with resistance at $1.95 and $2.00 are forming on the hourly XRP/USD chart.
  • The price slipped below $1.920, reaching a low of $1.90, before consolidating losses.
  • A recovery wave pushed the price above $1.9120 but faced resistance at the 23.6% Fib retracement level.
  • If the price moves upward again, it could face resistance near $1.9450 and the 50% Fib retracement level.

XRP Price

Potential Movements

  • A close above $2.00 might push the price to $2.050, with further hurdles at $2.10, $2.120, and potentially $2.150.
  • If unable to clear $1.95, a fresh decline may occur, with initial support at $1.90 and major support at $1.870.
  • A break below $1.870 could see the price fall to $1.8480, with further support around $1.820 and $1.7880.

Technical Indicators:

  • Hourly MACD: Gaining pace in the bearish zone.
  • Hourly RSI: Below the 50 level.
  • Major Support Levels: $1.90 and $1.870.
  • Major Resistance Levels: $1.950 and $2.00.