XRP price started a fresh decline below $2. 50. The price is now showing bearish signs and is at risk of more losses below $2. 30 in the near term. XRP price gained bearish momentum and traded below $2. 350. The price is now trading below $2. 420 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $2. 550 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a recovery wave if it stays above $2. 30. XRP Price Dips Further XRP price remained in a bearish zone below $2. 550 and extended losses, like Bitcoin and Ethereum. The price dipped below the $2. 50 and $2. 420 levels. The decline gained pace after there was a close below $2. 40. The price even tested $2. 250. A low was formed at $2. 260, and the price is now correcting some losses. There was a move above the 23. 6% Fib retracement level of the downward move from the $2. 552 swing high to the $2. 260 low. The price is now trading below $2. 40 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2. 40 level and the 50% Fib retracement level of the downward move from the $2. 552 swing high to the $2. 260 low. The first major resistance is near the $2. 480 level, above which the price could rise and test $2. 550. There is also a bearish trend line forming with resistance at $2. 550 on the hourly chart of the XRP/USD pair. A clear move above the $2. 550 resistance might send the price toward the $2. 60 resistance. Any more gains might send the price toward the $2. 650 resistance. The next major hurdle for the bulls might be near $2. 720. Another Decline? If XRP fails to clear the $2. 50 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2. 320 level. The next major support is near the $2. 30 level. If there is a downside break and a close below the $2. 30 level, the price might continue to decline toward $2. 250. The next major support sits near the $2. 220 zone, below which the price could continue lower toward $2. 20. Technical Indicators Hourly MACD The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) The RSI for XRP/USD is now below the 50 level. Major Support Levels $2. 320 and $2. 250. Major Resistance Levels $2. 50 and $2. 550. Continue reading XRP Price Downtrend Extends — Sellers Target Fresh Lows After Support Break→
