The price of the XRP began a new decline below lower than $ 2.450 $ and $ 2.350 dollars. The price is currently consolidating losses and remains at risk of more losses.
- The price of the XRP began a fresh decline below the level of $ 2.350.
- The price is now traded below $ 2.320 and a 100-hour simple sliding average.
- On the hourly diagram of the XRP/USD pair (Kraken data source) there is a key line of a bear trend with a resistance of $ 2.250.
- The couple can continue to move down if it is not close above the resistance zone $ 2.3350.
XRP price will not be restored
The price of the XRP did not remain above the resistance zone in the amount of $ 2.50 and began a new decrease, for example, Bitcoin and Ethereum. There was a step below support levels of $ 2.35 and $ 2.250.
The price even decreased below the support of $ 2.20 to enter the bear area. The low was formed at the level of $ 2.0639, and the price tried to cause a recovery wave. There was a sharp surge above the level of 50% recovery in the descending wave from the maximum swing of $ 2.604 to US dollars to $ 2.206.
However, the bears remained active at $ 2.350. There is also a key line of bear trends, which forms a resistance of $ 2.250 on the hourly diagram of the XRP/USD pair.
The price is now traded below $ 2.30 and a 100-hour simple sliding average. On the other hand, the price may encounter a resistance of about $ 2.250. The first main resistance is near the level of $ 2.3250. The next resistance is 2.40 US dollars, or the FIB recovery level 61.8% of the descending wave from high swing of $ 2.604 to $ 2.206.
A clear move above the resistance of $ 2.40 can send a price of a resistance of $ 2.50. Any benefits can send a price of $ 2.550 or even $ 2.5650 in the near future. The next major obstacle for bulls can be $ 2.620.
More losses?
If the XRP cannot clean the resistance zone in the amount of $ 2.250, this may start another decrease. Initial support for a deficiency is at about $ 2.1480. The next major support is located next to the level of $ 2.120.
If there is a break in the reverse order and approximately lower than the level of $ 2.120, the price may continue to decline to the support of $ 2.050. The next major support is located next to the $ 2.00 zone.
Technical indicators
The hourly MACD – MACD for XRP/USD is now gaining momentum in the bear area.
The hourly RSI (relative force) – RSI for XRP/USD now below the level of 50.
The main levels of support are $ 2.1480 US and $ 2.120.
The main resistance levels are $ 2.250 and $ 2.3250.
