💨 XRP Bounces Back — But Can Bulls Overcome Mounting Resistance?

XRP fell below $2.00 again. Price is reversing losses and confronts resistance at $2.050.

XRP entered a new downtrend below $2.050.

The price is below $2.020 and the 100-hour SMA.

On the hourly XRP/USD chart, a negative trend line with resistance at $2.020 is formed.

Close above the $2.050 resistance zone and the pair may rise again.

Price Resistance for XRP

Like Bitcoin and Ethereum, XRP fell below $2.120. Price fell below $2.050 and $2.020 support.

Pair tried $1.920 support After a low at $1.910, prices recovered. The $2.178 swing high to $1.910 low decline saw a tiny rebound wave above the 23.6% Fib retracement level.

The price is below $2.020 and the 100-hour SMA. The price may encounter resistance at $2.020 on the upside. On the hourly XRP/USD chart, a negative trend line with resistance at $2.020 is formed.

The first big barrier is $2.050, the 50% Fib retracement level of the decline from $2.178 swing high to $1.910 low. Next resistance is $2.080. A clean break over $2.080 might push the market above $2.120. More advances might push the price toward $2.150 or $2.20. The bulls may face $2.250 next.

Another Drop?
Failure to break the $2.050 resistance zone might cause XRP to fall again. Near $1.950 is first downward support. Near $1.920 is the next important support.

A downward break and closing below $1.920 might push the price near $1.880. Near $1.840 is the next important support.

Tech Indicators

Hourly MACD on XRP/USD is falling in the negative zone.

Relative Strength Index hourly XRP/USD RSI is below 50.

Major Support Levels: $1.950, $1.920.

Major resistance levels: $2.020, $2.050.

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