XRP Price Movement Overview
XRP has begun a downturn below the $2.00 mark. However, it did bounce back from $1.820 and may encounter resistance near the pivot point at $2.150.
- XRP has started recovering from the $1.820 range.
- The current trading price is above $2.00 and above the 100-hour simple moving average.
- According to the hourly chart of the XRP/USD pair from Kraken, this pair has moved past a significant bearish trend line that had resistance around $2.00.
- If it maintains a position above $2.150, a further increase could be possible.
Attention on XRP Price Recovery
XRP’s price dipped below $2.00, similarly to Bitcoin and Ethereum’s recent trends. It fell beneath $1.90 until buyers stepped in. A low was noted at $1.8177, and now, there’s an ongoing recovery attempt.
After moving above the $1.88 and $1.95 marks, buyers managed to elevate the price past the 50% Fibonacci retracement level of the drop from $2.140 down to $1.817. Additionally, as shown on the hourly chart for XRP/USD, the pair broke through that critical bearish trend line at $2.00.
Right now, it’s trading above both $2.00 and the 100-hour simple moving average. It’s also above the 76.4% Fibonacci retracement level for the decline from $2.140 to $1.817.
If the price begins to trend upward again, it might hit resistance around $2.120. A critical resistance level is present at $2.150, and if it closes above this point, then we could see it push toward $2.20. Following that, the next challenge would be at $2.250. A decisive move above $2.250 might drive the price towards $2.320. Any continued increases could direct it toward $2.350, with the next significant obstacle for buyers possibly being about $2.40.
Could We See Another Decline?
If XRP can’t break through the $2.150 resistance area, a new decline might begin. Immediate support looks to be around $2.00, with the next major support level near $1.980.
A downturn below the $1.980 mark, closing under this level, could lead to further declines toward $1.880. Additional support can be found around the $1.8450 range, and failing that, the price may continue to slide toward $1.80.
Technical Indicators
Hourly MACD – The MACD for the XRP/USD pair currently indicates a bullish trend.
Hourly RSI (Relative Strength Index) – XRP’s RSI is presently above the 50 mark.
Major support levels include $1.980 and $1.880.
Key resistance levels are situated at $2.150 and $2.250.
