XRP on the edge: Is this the calm before the massive breakthrough?


XRP has fallen again below $2.10. The support level at $2.050 has caused the price to weaken.
XRP has entered a new downtrend below $2.050.
The price is below $2.050 and the 100-hour SMA.
The hourly XRP/USD chart shows a negative trend line, with resistance at $2.120.
Once it falls below $2.00, the trading pair may continue to decline.
XRP fell again
Bitcoin and Ethereum recovered above $2,150, while XRP failed to do so. Prices fell again below $2.10 and $2.050.
The price has broken below the $2.00 support. The price is consolidating losses below the 23.6% Fibonacci retracement line of the bearish move from the $2.275 high to the $1.984 low.
The price is below $2.050 and the 100-hour SMA. If the price rises again, it may encounter resistance at $2.050. The first significant resistance is around $2.120. A negative trend line is forming near $2.120 on the hourly XRP/USD chart. It is approximately at the 50% Fibonacci retracement level from the $2.275 high to the $1.984 low.
If the price exceeds $2.120, it may drive the price up to $2.20. The next hurdle is $2.250. A clean break above $2.250 may push the market past $2.2850. Further gains could bring the price close to the resistance level of $2.350. Bulls may face a severe test at $2.40.
More losses?
If XRP cannot break through the resistance at $2.050, it may decline. The initial support on the downside is at $2.00. The next important support is around $1.9850.
If the price falls and closes below $1.9850, it may drop below $1.920. The next key support is at $1.880, and below this support, the price may fall to $1.820.
Technical Indicators
The MACD for XRP/USD is falling in the negative range on an hourly basis.
The relative strength index (RSI) of XRP/USD is below 50 every hour.
Main support levels: $2.00, $1.9850.
Two main resistance levels: $2.050 and $2.120.
XRP-1.93%
BTC-1.78%
ETH-3.13%
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