The price of XRP has been under pressure in recent sessions, facing a key resistance in the $2.220 area, causing nervousness in the market. Below is an updated technical analysis of the current situation.

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📉 Technical analysis: XRP/USD

XRP has recently fallen below the $2.220 support, currently sitting around $2.20. This area has become a key barrier, as the price remains below the 100-hour simple moving average, indicating that the bearish trend remains dominant.

In the hourly chart of XRP/USD, a downward trend line is observed with resistance at $2.2180. A clear break above this line could signal an attempt to recover towards $2.250 and eventually towards $2.30, where the next major resistance is located.

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📊 Important technical levels

Supports: $2.1250 and $2.0800 are the immediate levels to watch. A sustained break below $2.080 could lead to a drop towards $2.050 and even $2.00.

Resistances: The first major resistance is located at $2.20 and then at $2.220. A clear break of these resistances could lead XRP to regain bullish momentum towards $2.30 or even $2.3250.

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⚠️ Key indicators

MACD: The hourly MACD for XRP/USD shows a bearish bias.

RSI: The Relative Strength Index (RSI) is below 50, indicating bearish momentum in the short term.

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🔎 Market outlook

Bitcoin and Ethereum have also shown weakness, affecting XRP's behavior. Recently, XRP failed to break the resistance of $0.3250 (on reference charts) and suffered drops below key levels like $0.2800 and $0.2620. Now, with the price consolidating losses after a recent low of $2.2081, the outlook remains uncertain.

A move above the Fibonacci retracement level of 23.6% (from the high at $2.3540 to the low at $2.2081) could offer some relief, but the path to recovery seems challenging without a significant change in market sentiment.

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🧠 Conclusion

XRP is at a critical moment: below its key support of $2.220, with a bearish trend that could intensify if the price fails to hold above $2.1250. Although a clear break above $2.250 could pave the way for a recovery, the market continues to show signs of weakness.

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❓ Will XRP be able to reverse the bearish trend and surpass $2.30, or are we facing a deeper correction that could push its price towards $2.00?

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