XRP price started a new decrease of the $ 2.20 zone. The price is now consolidating and can be confronted with obstacles near the level of $ 2,120.
- XRP price started a new decrease after it had not deleted the $ 2.20 resistance zone.
- The price is now traded under $ 2,150 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance at $ 2,120 on the hour table of the XRP/USD pair (data source of Kraken).
- The couple can increase losses if it did not know the $ 2.20 resistance zone.
XRP price becomes rejection
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 $ 2,120.
The bears could push the price below the 50% FIB retraction level of the recovery wave of $ 2,023 Swing Low to the $ 2,199 High. There is also a connecting Bearish trend line that forms with resistance at $ 2,120 on the hour table of the XRP/USD pair.
The price is now traded under $ 2,150 and the 100-hour simple advancing average. However, the Bulls are now active in the vicinity of the support level of $ 2.10. They protect the 61.8% FIB racement level of the recovery wave of $ 2,023 Swing low to $ 2,199 High.
At the top the price can have the resistance to the level of $ 2,120 and the trend line zone. The first major resistance is near the level of $ 2,150. The next resistance is $ 2.20. A clear movement above the $ 2.20 resistance can send the price to $ 2,240 resistance. More profits can send the price to the resistance of $ 2,2650 or even $ 2,2880 in the short term. The next big obstacle for the bulls is perhaps $ 2,320.
Another decline?
If XRP did not know the $ 2,150 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 $ 2,0650.
If there is a narrow break and an end below the level of $ 2,0650, the price can continue to fall in the direction of the support of $ 2,020. The next major support is near the $ 2.00 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 $ 2,050.
Important resistance levels – $ 2,120 and $ 2.20.