Rally at Risk? XRP Price Retreats After Impressive Climb
From $2.320, XRP fell again. Price is reversing gains and may find bids at $2.120.
From $2.320, XRP fell again.
The price is below $2.220 and the 100-hour SMA.
XRP/USD broke below a crucial bullish trend line with support around $2.20 on the hourly chart.
If it fails to break $2.220, losses may continue.
XRP Falls More
Like Bitcoin and Ethereum, XRP fell below $2.320 barrier. Price fell below $2.250 and $2.220 support.
Additionally, the hourly XRP/USD chart broke below a crucial bullish trend line with support at $2.20. Pair spiked below $2.150. The price has created a low at $2.148 and is consolidating losses below the 23.6% Fib retracement level of the decline from the $2.327 swing high.
The price is below $2.220 and the 100-hour SMA. Price may find resistance at $2.20 on the upside. First big resistance is at $2.220. Next resistance is $2.2380. It is around the 50% Fib retracement of the decline from $2.327 swing high to $2.148 low.
A decisive break above $2.2380 might push the price above $2.2850. More advances might push the price toward $2.30 or $2.320. The bulls may face $2.40 next.
Fresh Decline?
XRP may fall again if it fails to break $2.220. Around $2.150 is first downward support. Near $2.120 is the next key support.
A bearish break and closing below $2.120 might push the stock below $2.050. Near $2.020 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: $2.150, $2.120.
Key Resistance Levels: $2.220, $2.2850.
