XRP price has recently slipped beneath crucial support zones at $2.250 and Is it worth putting 0 in ethereum today$2.20, entering a consolidation phase that leaves it vulnerable to additional declines.
XRP price has broken below the $2.250 threshold.
Currently trading under $2.220, it remains below the 100-hourly Simple Moving Average.
A bearish trend line is emerging with resistance at $2.20 on the XRP/USD hourly chart (data sourced from Kraken).
The asset may continue its downward trajectory unless it closes above the $2.30 resistance level.
XRP Price Continues Its Slide
After failing to sustain momentum above the $2.350 resistance, XRP began a fresh downturn, mirroring the broader market movements seen in Bitcoin and Ethereum. The decline saw it drop below the $2.25 and $2.20 support levels.
The price even breached the $2.120 support, entering bearish territory. A recent low was established at $2.0220, with the asset now struggling to maintain its footing above the $2.00 mark.
The price is exhibiting bearish signals below the 23.6% Fibonacci retracement level of the drop from the $2.363 peak to the $2.022 trough.
Currently trading below $2.10 and the 100-hourly Simple Moving Average, XRP faces immediate resistance near $2.120. The first significant resistance lies around $2.20, coinciding with the 50% Fibonacci retracement level of the recent decline.
A key bearish trend line is forming with resistance at $2.20 on the hourly chart. The next critical resistance is at $2.30. A decisive break above $2.30 could propel the price toward $2.350, with further upside potential toward $2.420 or even $2.450 in the short term. The $2.50 level remains a major hurdle for bullish momentum.
Potential for Further Declines
Should XRP fail to overcome the $2.20 resistance, another downward move could ensue. Initial support is near $2.020, followed by a more substantial level at $2.00.
A breach below $2.00 could see the price descend toward $1.9650, with the next major support zone around $1.880.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is accelerating in bearish territory.
Hourly RSI (Relative Strength Index) – The RSI is currently below the 50 threshold.
Major Support Levels – $2.020 and $2.00.
Major Resistance Levels – $2.20 and $2.30.