๐งจ XRP Downtrend Deepens โ Is Support About to Break?
After $2.350, XRP fell again. The price is falling and might go below $2.30.
Below $2.30, XRP fell again.
The price is below $2.350 and the 100-hour SMA.
The hourly XRP/USD chart shows a new connecting negative trend line with resistance around $2.305.
If $2.350 barrier is broken, the pair may rise again.
Price Eyes Drop Again
After Bitcoin and Ethereum, XRP found support around $2.265 and began a rebound. Above $2.30 and $2.32 resistance levels,
It moved over the 23.6% Fib retracement level of the $2.4767 swing high to $2.2670 low decline. However, bears were active at $2.350. The hourly XRP/USD chart shows a new connecting negative trend line with resistance around $2.305.
The price is below $2.35 and the 100-hour SMA. Price may find resistance between $2.305 and the trend line on the upside.
Near $2.340 is the first big resistance. Next resistance is $2.3720. The downward move from the $2.4767 swing high to the $2.2670 low is at the 50% Fib retracement level.
A clean break over $2.370 might push the price near $2.40. More advances might push the price toward $2.420 or $2.450. The bulls may face $2.50 next.
Another Fall?
XRP may fall again if it fails to break $2.3720. Around $2.280 is first downward support. Near $2.2650 is the next important support.
A bearish break and closing below $2.2650 might push the price around $2.2350. Near $2.20 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: $2.2650, $2.2350.
Major Resistance Levels: $2.3720, $2.420.
