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XRP Price Dips Under Crucial Support, Putting Spotlight on Lower Price Targets

XRP worth began a recent decline beneath $2.150. The worth is now struggling and faces resistance close to the $2.10 pivot degree.

  • XRP worth began a recent decline beneath the $2.150 zone.
  • The worth is now buying and selling beneath $2.120 and the 100-hourly Simple Moving Average.
  • There was a break beneath a key bullish development line with assist at $2.180 on the hourly chart of the XRP/USD pair (knowledge supply from Kraken).
  • The pair might proceed to maneuver down if it settles beneath $2.00.

XRP Price Dips Again

XRP worth tried a restoration wave above $2.150 however did not proceed greater, like Bitcoin and Ethereum. The worth began a recent decline beneath $2.120 and $2.10.

There was a transfer beneath the 50% Fib retracement degree of the upward transfer from the $1.817 swing low to the $2.286 high. Besides, there was a break beneath a key bullish development line with assist at $2.180 on the hourly chart of the XRP/USD pair.

The worth is now buying and selling beneath $2.10 and the 100-hourly Simple Moving Average. If there’s a recent upward transfer, the value may face resistance close to the $2.080 degree. The first main resistance is close to the $2.10 degree. A detailed above $2.10 might ship the value to $2.120. The subsequent hurdle sits at $2.150. A transparent transfer above the $2.150 resistance may ship the value towards the $2.20 resistance. Any extra features may ship the value towards the $2.250 resistance. The subsequent main hurdle for the bulls could be close to $2.320.

More Losses?

If XRP fails to clear the $2.10 resistance zone, it might begin a recent decline. Initial assist on the draw back is close to the $2.00 degree or the 61.8% Fib retracement degree of the upward transfer from the $1.817 swing low to the $2.286 high. The subsequent main assist is close to the $1.9250 degree.

If there’s a draw back break and an in depth beneath the $1.9250 degree, the value may proceed to say no towards $1.850. The subsequent main assist sits close to the $1.820 zone, beneath which the value might proceed decrease towards $1.80.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining tempo within the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now beneath the 50 degree.

Major Support Levels – $2.00 and $1.9250.

Major Resistance Levels – $2.10 and $2.120.

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