XRP Price Attempts Recovery Amidst Resistance Near $2.20
XRP's price is experiencing a decline, trading below $2.20 and facing challenges near the $2.20 level.
- Price dropped below the $2.20 zone and 100-hourly SMA.
- A break above a bearish trend line occurred at $2.10 on the hourly chart.
- XRP could continue downward if it remains below $2.20.
XRP Price Attempts Recovery
XRP failed to maintain above $2.25, similar to Bitcoin and Ethereum. It fell below $2.20 and $2.150, entering a short-term bearish phase, even spiking under $2.10. A low formed at $2.063, with attempts to recover above $2.120.
The price tested the 23.6% Fib retracement from $2.416 to $2.063 and trades below $2.20 and the 100-hourly SMA. Resistance might occur near $2.1680 and the first major resistance at $2.20. Closing above $2.20 may push the price to $2.240 or the 50% Fib retracement level.
Further resistance lies at $2.280. Surpassing this could lead to $2.320 or $2.350, with a significant hurdle at $2.40.
Potential Decline?
If XRP doesn't surpass the $2.20 resistance, it might decline again. Initial support is near $2.080, with major support at $2.050. Falling below $2.050 could drop the price toward $2.00, with further support at $1.9650, potentially reaching $1.880.
Technical Indicators:
- Hourly MACD: Losing momentum in the bearish zone.
- Hourly RSI: Below 50.
- Major Support Levels: $2.080 and $2.050.
- Major Resistance Levels: $2.1680 and $2.240.