XRP price started a new decrease below $ 2,150 zone. The price now consolidates above $ 2.00 and is confronted with obstacles near the $ 2,120 zone.
- XRP price started a downward correction of the $ 2,250 resistance zone.
- The price is now traded under $ 2.10 and the 100-hour simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 2,130 on the hour table of the XRP/USD pair (data source of Kraken).
- The couple can extend losing if there is an end under the $ 2.00 support zone.
XRP -Price faces Resistance
XRP price started a close correction of the $ 2,250 zone, such as Bitcoin and Ethereum. The price that was traded below $ 2,150 and $ 2,120 levels to enter a bearish zone.
The price was even below $ 2,050 but remained above $ 2.00. A low point was formed at $ 2,036 and the price is now consolidating. There was a recovery wave above the level of $ 2.10. The price was above the 50% FIB racement level of the downward movement of the $ 2,184 swing high to $ 2,036 low.
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 $ 2,120. There is also an important bearish trend line that forms with resistance at $ 2,130 on the hour table of the XRP/USD pair.
The trend line is near the 61.8% FIB retracement level of the downward movement of the $ 2,184 Swing High to the $ 2,036 Low. The first major resistance is near the level of $ 2,180. The next resistance is $ 2.20. A clear movement above the $ 2.20 resistance can send the price to $ 2,250 resistance. More profits can send the price to the resistance of $ 2,320 or even $ 2,350 in the short term. The next big obstacle for the bulls is perhaps $ 2.50.
More losses?
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 $ 2,030. The next major support is near the level of $ 2.00.
If there is a narrow break and an end to the $ 2.00 level, the price can continue to fall in the direction of the $ 1,920 support. The next major support is near the $ 1,840 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 below the 50 -level level.
Important support levels – $ 2,030 and $ 2.00.
Important resistance levels – $ 2,120 and $ 2,180.
