🛡️ XRP Hangs by a Thread — Will It Hold Support or Collapse Under Pressure?

Below $2.150, XRP fell again. The price is consolidating losses and may bounce back until the bears push it below $2.120.

A new drop started below $2.180 for XRP.

The price is below $2.20 and the 100-hour SMA.

XRP/USD broke above a negative trend line with resistance around $2.1550 on the hourly chart.

If it closes above $2.20, the pair may bounce back.

XRP Holds Support

Like Bitcoin and Ethereum, XRP fell below $2.220. The price fell below the support of $2.20 and $2.180.

The pair tested the support at $2.120. After a low of $2.120, the price is consolidating losses. There was a small increase above the 23.6% Fibonacci retracement level of the last drop from the high of $2.335 to the low of $2.120.

Moreover, the hourly chart of XRP/USD broke above a negative trend line with resistance around $2.1550. The price is below $2.20 and the 100-hour SMA.

The price may find resistance at $2.180 on the upside. Close to $2.20 is the first substantial resistance. The next resistance is $2.2250, the 50% Fibonacci retracement of the last drop from the high of $2.335 to the low of $2.120.

A clean break above $2.2250 could push the price above $2.2540. Further advances could push the price towards $2.280 or $2.30. $2.350 could be the next challenge for the bulls.

Another Drop?

XRP may fall again if it fails to break $ETH 2.20. The initial downside support is $2.1420. Close to $2.120 is the next key support.

A bearish break and a close below $2.120 could push the action below $2.050. Close to $2.020 is the next important support.