XRP price attempts recovery
XRP price failed to hold above $2.20 and, like Bitcoin and Ethereum, began another round of decline. The price broke below $2.150 and $2.120, entering a short-term bearish zone.
The price even dipped below $2.050. After forming a low around $2.034, the price is currently attempting a rebound. The price briefly broke above $2.080 but remains below the 23.6% Fibonacci retracement level of the decline from the $2.415 high to the $2.034 low.
Currently, the price is below $2.120 and the 100-hour simple moving average. If a new rally emerges, resistance may appear around $2.10. Additionally, on the XRP/USD hourly chart, a key descending trendline is forming, with resistance near $2.10.
The first major resistance level is near $2.120. If the price closes above $2.120, it could rise further to $2.220, or reach the 50% Fibonacci retracement level of the decline from the $2.415 high to the $2.034 low.
The next resistance level is at $2.320. If the price effectively breaks above the $2.320 resistance, it could rise further to the $2.350 resistance level. If the price continues to rise, it might extend toward the $2.3850 resistance level. The next major resistance for bulls could be near $2.40.
XRP price failed to hold above $2.20 and, like Bitcoin and Ethereum, began another round of decline. The price broke below $2.150 and $2.120, entering a short-term bearish zone.
The price even dipped below $2.050. After forming a low around $2.034, the price is currently attempting a rebound. The price briefly broke above $2.080 but remains below the 23.6% Fibonacci retracement level of the decline from the $2.415 high to the $2.034 low.
Currently, the price is below $2.120 and the 100-hour simple moving average. If a new rally emerges, resistance may appear around $2.10. Additionally, on the XRP/USD hourly chart, a key descending trendline is forming, with resistance near $2.10.
The first major resistance level is near $2.120. If the price closes above $2.120, it could rise further to $2.220, or reach the 50% Fibonacci retracement level of the decline from the $2.415 high to the $2.034 low.
The next resistance level is at $2.320. If the price effectively breaks above the $2.320 resistance, it could rise further to the $2.350 resistance level. If the price continues to rise, it might extend toward the $2.3850 resistance level. The next major resistance for bulls could be near $2.40.