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XRP’s rally hit a wall, plunging below $2.10. Now, it’s a battleground near the $2.05 mark, with the bears holding a firm grip. Can XRP bulls muster enough strength to break through, or are we headed for another dip?
- XRP price started a fresh decline below the $2.050 zone.
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The price is now trading below $2.050 and the 100-hourly Simple Moving Average. XRP bulls, brace yourselves! A stubborn bearish trend line is digging in its heels near $2.120 on the hourly XRP/USD chart (Kraken data). Can XRP break free, or will this resistance prove too strong?
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The pair could continue to move down if it settles below $2.00.
XRP Price Dips Again
XRP’s attempted rally stalled near $2.150, mirroring Bitcoin and Ethereum’s upward momentum – but quickly fizzled. Bears seized control, triggering a swift descent below $2.10 and then $2.050, leaving bulls reeling.
The bears have breached the $2.00 barricade. A chilling low of $1.984 has been carved, and the price now huddles, wounded, beneath the 23.6% Fibonacci shadow cast by the fall from the $2.275 peak to that $1.984 bottom.
XRP teeters on the edge! Currently submerged below $2.050 and struggling against the 100-hourly SMA, XRP’s fate hangs in the balance. Can it muster a bullish resurgence? Watch for a wall of resistance looming at $2.050. Clearing that hurdle, the next major battleground sits at $2.120, coinciding with a stubborn bearish trend line on the hourly chart. This level also aligns precariously with the 50% Fib retracement, measured from the agonizing drop between $2.275 and $1.984. Will XRP reclaim lost ground, or succumb to the bearish pressure?
“$2.12: Breach it, and $2.20 is the next target. Clear that, and the ascent to $2.25 begins. Overcoming the $2.25 fortress unlocks the path to $2.285. Sustained momentum could propel prices toward $2.35. But the ultimate bull test? Conquering $2.40.”
More Losses?
XRP’s fate hangs in the balance. A failure to breach the $2.050 fortress could trigger a swift descent. Watch for an initial safety net around $2.00, but the real battleground lies at $1.9850. Lose that, and prepare for turbulence.
A slip below $1.9850 could uncork a downward spiral, potentially dragging the price toward $1.920. Should that level fail to hold, brace for a test of the $1.880 support zone. Breaking through $1.880 opens the door to further losses, with $1.820 looming as the next target.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $2.00 and $1.9850.
Major Resistance Levels – $2.050 and $2.120.
Thanks for reading XRP Price Hovers at Key Support Fueling Debate Over Incoming Breakout
