XRP Holds at $2.00—Big Move Ahead?
A new fall below $2.20 began for XRP. The price is displaying negative signals and may go below $2.050.
XRP resumed its slide after failing to break $2.220 barrier.
The price is below $2.150 and the 100-hour SMA.
On the hourly XRP/USD chart, a negative trend line connects to resistance around $2.1480.
If the $2.050 support zone breaks, losses may continue.
XRP Falls More
XRP fell like Bitcoin and Ethereum after failing to get beyond $2.220. The price fell below $2.20 and $2.120.
The couple tried $2.080. The price is consolidating losses after a low of $2.081. Below the 23.6% Fib retracement level of the latest slide from the $2.215 swing high to the $2.081 low, price action is negative.
The price is below $2.150 and the 100-hour SMA. The price may find resistance at $2.150 on the upside. On the hourly XRP/USD chart, a negative trend line connects to resistance around $2.148. The trend line is approaching the 50% Fib retracement of the latest slide from $2.215 swing high to $2.081 low.
Near $2.180 is the first big obstacle. The next hurdle is $2.20. A clean break over $2.20 might push the market above $2.250. More advances might push the price toward $2.280 or $2.30. The bulls may face $2.320 next.
More Losses?
XRP might fall again if it fails to break $2.15 support. Initial downside support is about $2.080. Near $2.050 is the next important support.
A downward break and closing below $2.050 might push the price near $2.00. Near $1.880 is the next important support.
Tech Indicators
The hourly MACD for XRP/USD is moving bearishly.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $2.080, $2.050.
Two major resistance levels: $2.150 and $2.20.
