XRP Price Recovery Looks Fragile—Can Bulls Break the Cap?

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP price started a recovery wave above $1.90. The price is now consolidating and might struggle to clear the $2.00 resistance. XRP price started a recovery wave above the $1.9050 zone. The price is now trading below $2.00 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.9520 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $2.00. XRP Price Faces Resistance XRP price remained supported above $1.850 and started a recovery wave, like Bitcoin and Ethereum . The price was able to climb above $1.880 and $1.90 to enter a short-term positive zone. There was also a move above the 23.6% Fib retracement level of the downward move from the $2.047 swing high to the $1.850 low. The bears defended a close above the $1.950 level and the price reacted to the downside. There is also a bearish trend line forming with resistance at $1.9520 on the hourly chart of the XRP/USD pair. The price is now trading below $1.950 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.950 level and the trend line. It coincides with the 50% Fib retracement level of the downward move from the $2.047 swing high to the $1.850 low. Source: XRPUSD on TradingView.com The first major resistance is near the $2.00 level. A close above $2.00 could send the price to $2.050. The next hurdle sits at $2.120. A clear move above the $2.120 resistance might send the price toward the $2.20 resistance. Any more gains might send the price toward the $2.220 resistance. The next major hurdle for the bulls might be near $2.250. Another Drop? If XRP fails to clear the $2.00 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.90 level. The next major support is near the $1.850 level. If there is a downside break and a close below the $1.850 level, the price might continue to decline toward $1.820. The next major support sits near the $1.80 zone, below which the price could continue lower toward $1.7650. 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 above the 50 level. Major Support Levels – $1.90 and $1.850. Major Resistance Levels – $1.950 and $2.00.