XRP Bulls Face Crucial Test at Key Resistance; Time Running Out for an Upsurge?
XRP's recent recovery wave, initiated above the $2.080 mark, now finds itself at a critical juncture. While the digital asset has managed to consolidate above $2.050 and its 100-hourly Simple Moving Average, a significant resistance zone at $2.10 looms large, potentially determining its short-term trajectory.
The Battle for Upside Momentum
The cryptocurrency has shown resilience, climbing past the $2.050 and $2.060 levels, echoing recoveries seen in Bitcoin and Ethereum. However, the path forward is fraught with challenges. A bearish trend line has formed, presenting a formidable resistance at $2.0850 on the hourly chart against the USD. Overcoming the $2.10 barrier is paramount for any sustained upward movement. Should XRP bulls successfully breach this, subsequent resistance levels lie at $2.120, $2.160, and potentially as high as $2.20, $2.2650, $2.280, and even $2.350.
Threat of Further Decline
Conversely, a failure to clear the $2.10 resistance could trigger a fresh wave of declines. Initial downside support is anticipated around $2.050, followed by a more significant buffer at $2.0150. A decisive break below the $2.0150 mark could pave the way for a slide towards $1.950, with further major support levels at $1.920 and potentially $1.850. Technical indicators currently paint a cautious picture, with the Hourly MACD showing bearish momentum and the Relative Strength Index (RSI) positioned below the 50 level.
Critical Price Levels
- Major Support Levels: $2.050, $2.0150
- Major Resistance Levels: $2.10, $2.160
