XRP Price Targets Bounce; Traders Watch $2.30 | Crypto News
XRP price began a contemporary decline below $2.350. The price is now displaying bearish indicators and is at risk of more losses below $2.120 in the close to time period.
- XRP price gained bearish momentum and traded below $2.30.
- The price is now trading below $2.250 and the 100-hourly Simple Moving Average.
- There is a bearish pattern line forming with resistance at $2.250 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair may start a recovery wave if it stays above $2.150.
XRP Price Dips Further
XRP price remained in a bearish zone below $2.50 and prolonged losses, like Bitcoin and Ethereum. The price dipped below the $2.350 and $2.30 ranges.
The decline gained tempo after there was a close below $2.250. The price even examined $2.050. A low was fashioned at $2.066, and the price is now correcting some losses. There was a transfer above the 23.6% Fib retracement stage of the downward transfer from the $2.552 swing high to the $2.066 low.
The price is now trading below $2.30 and the 100-hourly Simple Moving Average. If there may be a contemporary upward transfer, the price may face resistance close to the $2.250 stage. There is also a bearish pattern line forming with resistance at $2.250 on the hourly chart of the XRP/USD pair.
The first major resistance is close to the $2.30 stage, above which the price may rise and take a look at $2.3650. It is close to the 61.8% Fib retracement stage of the downward transfer from the $2.552 swing high to the $2.066 low.
A clear transfer above the $2.3650 resistance may ship the price toward the $2.420 resistance. Any more good points may ship the price toward the $2.450 resistance. The next major hurdle for the bulls is likely to be close to $2.50.
Another Decline?
If XRP fails to clear the $2.30 resistance zone, it may start a contemporary decline. Initial help on the draw back is close to the $2.180 stage. The next major help is close to the $2.150 stage.
If there may be a draw back break and a close below the $2.150 stage, the price may continue to decline toward $2.050. The next major help sits close to the $2.00 zone, below which the price may continue decrease toward $1.850.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now dropping tempo in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 stage.
Major Support Levels – $2.180 and $2.150.
Major Resistance Levels – $2.250 and $2.30.
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