XRP news today: XRP Price Finds Support At $2.080, Faces Resistance At $2.1650
1min read XRP price has recently found support at $2.080 and initiated a fresh increase. However, the price is now encountering resistance near $2.1650, struggling to continue its upward momentum. The price is currently trading below $2.170 and the 100-hourly Simple Moving Average, with a key bearish trend line forming with resistance near $2.160 on the hourly chart of the XRP/USD pair. If the price manages to close above the $2.1680 resistance, it might start another increase.
XRP price has experienced a downside correction below the $2.20 and $2.150 levels, similar to Bitcoin and Ethereum. The price even declined below the $2.120 level before the bulls appeared. A low was formed at $2.0780, and the price is now correcting losses, moving above the $2.10 and $2.120 levels. The price cleared the 23.6% Fib retracement level of the downward move from the $2.2579 swing high to the $2.078 low. However, the bears are active near the $2.1650 zone, and the price is now trading below $2.170 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.160 level, with the first major resistance near the $2.1680 level and the 50% Fib retracement level of the downward move from the $2.2579 swing high to the $2.078 low. The next resistance is $2.20. A clear move above the $2.20 resistance might send the price toward the $2.220 resistance. Any more gains might send the price toward the $2.250 resistance or even $2.30 in the near term. The next major hurdle for the bulls might be $2.320.
Ask Aime: "Will XRP break through $2.20 resistance?".
If XRP fails to clear the $2.160 resistance zone, it could start another decline. Initial support on the downside is near the $2.120 level. The next major support is near the $2.080 level. If there is a downside break and a close below the $2.080 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.020 zone.
Technical indicators show that the MACD for XRP/USD is now losing pace in the bullish zone, while the RSI for XRP/USD is now above the 50 level. Major support levels are at $2.120 and $2.080, while major resistance levels are at $2.1680 and $2.20.
