XRP's upward momentum is hindered at the critical level of $2.25, following Bitcoin and Ethereum into a downward channel, with prices consecutively breaking through the $2.20 and $2.180 defense lines.
Bears are pressing their advantage, breaking through the $2.120 support level and dipping to $2.095 before entering a low-level consolidation. The current price has dropped below the 23.6% Fibonacci retracement level of the downward wave from $2.2579 to $2.095.
Currently, XRP remains under pressure below $2.180 and the 100-hour moving average. On the hourly chart, a key bearish trendline forms around $2.1750, becoming an important defense line for bears.
Key confrontation points between bulls and bears
If a rebound occurs, XRP will first encounter resistance at $2.1320. The $2.1750 level, as the primary key pressure point, corresponds exactly to the 50% Fibonacci retracement level of the downward wave from $2.2579 to $2.095, forming a strong resistance zone.
If it successfully breaks the $2.1950 resistance, XRP is expected to test the $2.220 level. If the upward trend continues, the price may briefly reach the $2.250-$2.30 range, while $2.320 will become the next key resistance level faced by bulls.
If XRP fails to overcome the $2.1750 resistance, it may trigger a new round of declines. In the short term, $2.10 is the primary defense line, and if it is lost, the key support at $2.080 will face a test. If the price falls below $2.080 and effectively closes underneath, bears may further push it down to $2.050, or even target the $2.020 support level.
Technical Indicators
Hourly MACD - The MACD for XRP/USD is currently accelerating in the bearish zone.
Hourly RSI (Relative Strength Index) - The RSI for XRP/USD is currently below the 50 level.
Main support levels - $2.10 and $2.080.
Main resistance levels - $2.1320 and $2.1950.
