XRP Price Update

XRP’s price couldn’t maintain momentum above $2.320 and has started to retract. Right now, it seems to be struggling with resistance around $2.20.

• XRP has begun a decline, moving below the $2.250 mark.
• Currently, the price is trading under the 100-hour simple moving average at $2.250.
• The hourly XRP/USD chart shows that the pair dropped below a significant bullish trend line, with support at $2.245.
• If XRP settles below $2.150, the downward trend may persist.

XRP was unable to surpass $2.35 and thus initiated a new downward trajectory, similar to what was seen with Bitcoin and Ethereum. It fell below $2.320 and $2.250, entering a short-term bearish phase.

On the hourly chart, the pair dipped below the important trend line at $2.245 and fell even lower to form a low at $2.141. Currently, it shows bearish signs below the 23.6% Fibonacci retracement level from the swing high of $2.416 to the low of $2.141.

At present, XRP is trading below the 100-hour simple moving average. If another upward trend occurs, resistance is likely close to $2.20. The first significant resistance level is around the $2.250 mark. A closing price above $2.250 could see it rise to $2.30.

The next obstacle appears to be at $2.320, which aligns with the 61.8% Fibonacci retracement from the decline peak of $2.416 to the drop of $2.141. A clear move above $2.320 may push the price toward the $2.350 resistance. Further gains could lead to challenges around the $2.40 mark, and the bulls might face significant resistance near $2.450.

Potential for More Losses?

If XRP can’t break past the $2.250 resistance, a new decline could be on the horizon. Key support levels sit around $2.150, with another major support level near $2.120.

A significant drop below $2.120 could continue the trend down toward $2.050. If it moves below that point, the price may slide further to the $2.00 zone, where things could get even trickier around $1.880.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is below the 50 threshold.

Major support levels – $2.120 and $2.050.

Key resistance levels – $2.20 and $2.250.