$XRP Price Drops Below Key Support: Will $2.02 Hold the Line?
#XRP #FOMCMeeting #StrategicBTCReserve #MarketPullback
$XRP is under pressure again, following the broader market trend driven by Bitcoin and Ethereum corrections. After failing to hold above the $2.25 mark, XRP is now testing critical support zones, sparking concerns among traders and investors alike.
Bearish Momentum Intensifies
The decline began once XRP lost ground below the $2.20 level, triggering further selling pressure. Currently trading below $2.180 and the 100-hour SMA, the asset is showing signs of weakness. On the hourly XRP/USD chart, a clear bearish trend line has formed with resistance near $2.1750.
XRP is now consolidating near $2.095, following a dip below $2.120. The asset is also trading beneath the 23.6% Fib retracement level (from the $2.2579 high to the $2.095 low), signaling that buyers are losing grip.
Resistance Levels to Watch
$2.1320 – Initial minor resistance
$2.1750 – Key trendline and Fib 50% resistance
$2.1950 – Strong resistance zone
A breakout above $2.1950 could send XRP toward $2.220, and with bullish volume, even $2.250 or $2.30. Next major barrier: $2.320
What If Support Breaks?
If XRP fails to reclaim the $2.1750 level soon, the downtrend may deepen. Immediate support lies at $2.10, followed by a crucial support zone at $2.080. A breakdown below this could expose XRP to further downside risk, possibly heading toward $2.050 or even $2.020.
Technical Indicators
MACD: Bearish momentum gaining strength
RSI: Below 50, indicating weak buying interest
Key Support Levels: $2.10 and $2.080
Key Resistance Levels: $2.1320 and $2.1950
