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XRP Price Struggles to Hold – Fresh Decline Risk Grows for the Token

XRP worth began a contemporary decline under the $2.90 zone. The worth is now displaying bearish indicators and may decline once more under the $2.780 zone.

  • XRP worth is shifting decrease under the $2.90 help zone.
  • The worth is now buying and selling under $2.880 and the 100-hourly Simple Moving Average.
  • There is a bearish development line forming with resistance at $2.90 on the hourly chart of the XRP/USD pair (information supply from Kraken).
  • The pair may proceed to transfer down if it dips under $2.780.

XRP Price At Risk of Another Decline

XRP worth failed to keep above the $3.00 pivot stage and began a contemporary decline, like Bitcoin and Ethereum. The worth dipped under the $2.920 and $2.90 help ranges.

The bears even pushed the worth under $2.80. A low was fashioned close to the $2.678 help, and the worth just lately began a restoration wave. There was a transfer above the 23.6% Fib retracement stage of the latest decline from the $3.138 swing high to the $2.678 low.

However, the bears are energetic close to the $2.90 resistance. The worth is now buying and selling under $2.90 and the 100-hourly Simple Moving Average. Besides, there’s a bearish development line forming with resistance at $2.90 on the hourly chart of the XRP/USD pair.

On the upside, the worth may face resistance close to the $2.880 stage. The first main resistance is close to the $2.90 stage and the development line. It is shut to the 50% Fib retracement stage of the latest decline from the $3.138 swing high to the $2.678 low.

A transparent transfer above the $2.90 resistance may ship the worth towards the $2.950 resistance. Any extra positive aspects may ship the worth towards the $3.00 resistance. The subsequent main hurdle for the bulls may be close to $3.120.

Another Decline?

If XRP fails to clear the $2.90 resistance zone, it may proceed to transfer down. Initial help on the draw back is close to the $2.780 stage. The subsequent main help is close to the $2.7150 stage.

If there’s a draw back break and an in depth under the $2.7150 stage, the worth may proceed to decline towards $2.650. The subsequent main help sits close to the $2.60 zone, under which the worth may acquire bearish momentum.

Technical Indicators

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

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

Major Support Levels – $2.780 and $2.7150.

Major Resistance Levels – $2.90 and $2.950.

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