XRP price started a new fall in the $ 2,080 zone. The price now restores some losses and can be confronted with obstacles in the vicinity of the $ 2,150 level.
- XRP price started a new decrease after it had not deleted the $ 2.20 resistance zone.
- The price is now traded under $ 2,120 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance to $ 2.10 on the hour table of the XRP/USD pair (Data source of Kraken).
- The couple can increase losses if it did not know the $ 2,150 resistance zone.
XRP -Price faces Resistance
The XRP price could not be higher above the $ 2.20 resistance zone and responded to the disadvantage, such as Bitcoin and Ethereum. The price fell under the levels of $ 2,150 and $ 2.10.
The couple even fell below $ 2,050 zone. A layer was formed at $ 2,023 and the price is now trying a recovery wave. There was a movement above the level of $ 2,050. The price knew the 23.6% FIB racement level of the recent decrease of the $ 2,215 swing high to $ 2,023 low.
The price is now traded under $ 2,120 and the 100-hour simple advancing average. At the top, the price at the level of $ 2.10 can be confronted. There is also a connecting Bearish trend line that forms with resistance to $ 2.10 on the hour table of the XRP/USD pair. The trend line is close to the 50% FIB retraction level of the recent decrease of the $ 2,215 Swing high to the $ 2,023 Low.
The first major resistance is near the level of $ 2,150. The next resistance is $ 2,1680. A clear movement above the $ 2,1680 resistance can send the price to $ 2.20 resistance. More profits can send the price to the resistance of $ 2,220 or even $ 2,250 in the short term. The next big obstacle for the Bulls is perhaps $ 2,2880.
Another decline?
If XRP did not know the $ 2,120 resistance zone, it can start a new decline. The first support on the disadvantage is near the level of $ 2,050. The next major support is near the level of $ 2,020.
If there is a narrow break and an end below the level of $ 2.020, the price can continue to fall to the $ 2.00 support. The next major support is near the $ 1,880 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 – $ 2,050 and $ 2,020.
Important resistance levels – $ 2,120 and $ 2,150.