NewsBTC
17 hour ago
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XRP Faces Resistance at $2.150 Amidst Ongoing Price Decline

XRP Price Analysis

  • XRP has declined below the $2.10 zone, currently trading under $2.150 and the 100-hourly Simple Moving Average.
  • A bearish trend line with resistance at $2.150 is forming on the hourly chart of the XRP/USD pair.
  • The price attempted recovery above $2.20 but faced resistance, starting a decline below $2.150 and $2.120.
  • The recent low was noted at $2.025, with attempts to recover reaching the 23.6% Fib retracement level from $2.525 to $2.025.

XRP Price

Resistance Levels

  • The first major resistance is at $2.20. A close above this could push the price to $2.250 and further to $2.2750, aligning with the 50% Fib retracement level.
  • Further gains may target $2.320, with significant resistance anticipated near $2.420.

Potential Decline

  • If XRP cannot surpass the $2.150 resistance, a fresh decline could ensue.
  • Initial support is observed at $2.050, followed by major support at $2.020.
  • A breach below $2.020 might drive the price down to $1.9650, with additional support at $1.920 and potentially $1.880.

Technical Indicators

  • Hourly MACD: Losing pace in the bearish zone.
  • Hourly RSI: Currently above the 50 level.