XRP price started a new decrease below $ 2,050 zone. The price is now consolidating and can be confronted with obstacles near the level of $ 2.10.
- XRP price started a new decrease below $ 2,120 and $ 2,050 levels.
- The price is now traded under $ 2.10 and the 100-hour simple advancing average.
- There is a short-term decrease of channel formation with resistance at $ 2,0680 on the hour table of the XRP/USD pair (data source of Kraken).
- The couple can increase losses if it did not know the $ 2.10 resistance zone.
XRP -Price tries recovery
XRP price extended losses below the support level of $ 2,050, such as Bitcoin and Ethereum. The price fell under the support levels of $ 2.00 and $ 1,980. A low point was formed at $ 1,960 and the price tries to try a recovery wave.
There was a movement above the levels of $ 2.00 and $ 2.020. The price surpassed the 23.6% FIB retraction level of the downward movement of the $ 2,235 swing high to $ 1,960 low. However, the bears are active under the $ 2.10 resistance zone.
The price is now traded under $ 2.10 and the 100-hour simple advancing average. At the top, the price can face the resistance to the level of $ 2.070. There is also a short-term declining channel formation with resistance at $ 2,0680 on the hour table of the XRP/USD pair.
The first major resistance is near the level of $ 2.10. It is close to the 50% FIB racement level of the downward movement of the $ 2,235 swing high to $ 1,960 low. The next resistance is $ 2,120.
A clear movement above the $ 2,120 resistance can send the price to $ 2,180 resistance. More profits can send the price to the resistance of $ 2,2350 or even $ 2.40 in the short term. The next big obstacle for the bulls is perhaps $ 2.50.
Another decline?
If XRP did not know the $ 2.10 resistance zone, it can start a new decline. The first support at the disadvantage is near the $ 2.00 level. The next major support is close to the $ 1,960 level.
If there is a downward break and an end below the level of $ 1,960, the price can continue to fall in the direction of the $ 1,920 support. The next major support is near the $ 1.90 zone.
Technical indicators
MACD per hour – The MACD for XRP/USD now loses pace in the bearish zone.
Picly RSI (relative strength -index) -The RSI for XRP/USD is now above 50 -level.
Important support levels – $ 2.00 and $ 1,960.
Important resistance levels – $ 2.10 and $ 2,120.
