XRP price started a large fall in the $ 3.00 zone. The price has fallen by more than 25% and there was a peak below $ 2.00 support zone.
- XRP price started a new fall below $ 2.80 and $ 2.50 levels.
- The price is now traded under $ 2.60 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance to $ 2.45 on the hour table of the XRP/USD pair (data source of Kraken).
- The couple can start a new increase if it knew the $ 2.50 resistance zone.
XRP Price Eyes Recovery
XRP price started a new fall in the $ 3.00 zone, such as Bitcoin and Ethereum. The price fell sharply among the support levels of $ 2.80 and $ 2.50. The bears even pushed it under $ 2.00.
There was a sharp decrease of more than 25% and the price tested the $ 1.75 zone. A low point was formed at $ 1.75 and the price now corrects some losses. There was a movement above the level of $ 2.00. The price surpassed the 23.6% FIB retracement level of the downward movement of the $ 3,155 swing high to $ 1,750 low.
The price is now traded under $ 2,750 and the 100-hour simple advancing average. At the top, the price at the level of $ 2.30 can be confronted. The first major resistance is near the level of $ 2.40.
The next resistance is $ 2,450. There is also a connecting Bearish trend line that forms with resistance to $ 2.45 on the hourly table of the XRP/USD pair. It is close to the 50% FIB racement level of the downward movement of the $ 3,155 swing high to $ 1,750 low.
A clear movement above the $ 2,450 resistance can send the price to $ 2.50 resistance. More profits can send the price to the resistance of $ 2,650 or even $ 2,720 in the short term. The next major obstacle for the bulls can be $ 3.00.
Another decline?
If XRP did not know the $ 2.40 resistance zone, it can start a new decline. The first support on the disadvantage is near the level of $ 2.10. The next major support is near the level of $ 2.00.
If there is a downward break and an end to the $ 2.00 level, the price can continue to fall to the $ 1,850 support. The next major support is near the $ 1,750 zone.
Technical indicators
MACD per hour – The MacD for XRP/USD now wins pace in the Bearish zone.
Picly RSI (relative strength -index) -The RSI for XRP/USD is now below the 50 -level level.
Important support levels – $ 2.10 and $ 2.00.
Important resistance levels – $ 2.40 and $ 2.50.