$XRP Holding at $2.00—Is a Big Move Coming?
XRP is experiencing downward pressure after failing to break the $2.220 resistance. The price is currently showing bearish signs and may dip below the $2.050 support level.
XRP’s Recent Decline
Similar to Bitcoin and Ethereum, XRP has continued its decline, dropping below key levels of $2.20 and $2.120. It recently touched a low of $2.081 and is now consolidating losses.
The price remains below $2.150 and the 100-hour simple moving average (SMA). Additionally, a descending trend line on the XRP/USD hourly chart is acting as resistance near $2.148. This trend line aligns with the 50% Fibonacci retracement level of the drop from $2.215 to $2.081.
Key Resistance and Breakout Levels
First Resistance: $2.150
Major Hurdle: $2.20
Breakout Potential: A move above $2.20 could trigger gains toward $2.250 and potentially $2.280–$2.30. Bulls may then aim for $2.320.
Potential for Further Decline
If XRP fails to reclaim $2.15, further downside is likely.
Immediate Support: $2.080
Critical Support: $2.050
Break Below $2.050: Could lead to a drop towards $2.00, with the next major support near $1.880.
Technical Indicators
MACD (Hourly): Bearish momentum increasing.
RSI (Hourly): Below 50, indicating weakness.
Market Outlook
For XRP to regain strength, it must hold above $2.050 and break through $2.15. A move past $2.20 could signal the start of a bullish reversal, while failure to hold $2.050 could lead to further declines.
