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XRP is once again testing a key support zone as the price struggles to hold above the $2.20 level. A failure to reclaim this level could trigger another leg down, but traders are watching closely for a potential reversal.
📉 Latest Price Action:
XRP began a renewed decline from the $2.3540 swing high.
The price is currently below $2.20 and trading under the 100-hour Simple Moving Average.
On the XRP/USD hourly chart, a downward trendline is forming with resistance near $2.2180.
⚠️ Key Technical Insights:
XRP is consolidating after hitting a low at $2.2081, attempting a modest rebound.
It has cleared the 23.6% Fib retracement of the recent decline from $2.3540 to $2.2081.
Immediate resistance is at $2.20, with major resistance at $2.220.
A breakout above $2.220 could push XRP toward the $2.250 level.
Beyond that, the next major barriers lie at $2.280, $2.30, and possibly $2.3250–$2.40.
🛑 Bearish Scenario:
If XRP fails to reclaim $2.220, the downside risk intensifies.
Initial support lies near $2.125, followed by $2.080.
A decisive move below $2.080 may trigger a drop toward $2.050, or even $2.00 — a psychological and technical level.
📊 Technical Indicators:
MACD (Hourly): Bearish momentum is still in play.
RSI (Hourly): Below 50 — indicating a lack of bullish strength.
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🧭 Outlook:
XRP is at a make-or-break point. Bulls need a clean push above $2.220 to regain momentum, while bears are eyeing support levels below $2.080 for another potential move down. It’s a critical moment — one that could define XRP’s short-term trend.
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