🔻 XRP Under Fire — Will the Bullish Structure Hold or Collapse?

XRP started a downtrend from $2.220. The price is stabilizing and may fall below $2.020.

A negative reversal began below $2.20 for XRP.
The price is below $2.150 and the 100-hour SMA.

XRP/USD broke below a positive trend line with support around $2.150 on the hourly chart.

The pair may find offers at $2.020 and rise.

XRP Drops Below Support

XRP tried to rise over $2.150 like Bitcoin and Ethereum. Price soared over $2.20 and $2.220, but bulls failed to extend gains.

After reaching $2.2294, the price is correcting. It fell below $2.20 and $2.15. The price fell below the 23.6% Fib retracement line of the $1.910 swing low to $2.2294 high.

Additionally, the hourly XRP/USD chart broke below a positive trend line with support around $2.150. The price is below $2.180 and the 100-hour SMA.

The price may find resistance at $2.150 on the upside. Near $2.20 is the first substantial resistance. Next resistance is $2.220. A clean break above $2.220 might push the market above $2.320.

More advances might push the price toward $2.40 or $2.450. The bulls may face $2.50 next.

More Losses?
XRP may fall again if it fails to break $2.20. Initial downside support is approaching $2.070, the 50% Fib retracement level of the upward run from the $1.910 swing low to the $2.2294 high. Near $2.020 is the next important support.

If the price breaks down and closes below $2.020, it may fall near $2.00. Near $1.920 is the next important support.

Tech Indicators

The hourly MACD for XRP/USD is moving bearishly.

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

Major Support Levels: $2.070, $2.020.

Two major resistance levels: $2.20 and $2.220.

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