XRP Price Extends Losses, Deepens Move Below $2.0 Amid Softer Sentiment
Overview
XRP has experienced a significant decline, moving below the $2.050 mark and encountering resistance at this pivot level. The current market sentiment appears to be bearish, as XRP struggles to regain ground after a failed recovery attempt.
Current Price Movement
XRP price started a fresh decline below the $2.050 zone, now trading below both this level and the 100-hourly Simple Moving Average. A bearish trend line has formed, indicating resistance at $2.080 on the hourly chart of the XRP/USD pair. This downward movement is critical, as a close below $2.00 could lead to further declines.
After attempting a recovery above $2.120, XRP could not maintain upward momentum, similar to movements seen in other cryptocurrencies like Bitcoin and Ethereum. Instead, it fell below the $2.050 and $2.020 levels, eventually moving below the $2.00 support level. A low was established at $1.957, with the price currently consolidating losses below the 23.6% Fibonacci retracement level from the recent high of $2.141 to the low of $1.9575.
If XRP manages to initiate an upward move, it may encounter resistance near the $2.050 level and the 50% Fibonacci retracement level from the same downward move. The first significant resistance is near $2.080, and should the price close above this level, it could potentially rise to $2.120. The next resistance hurdle lies at $2.150, and a definitive move above this level may lead XRP toward the $2.20 resistance.
Potential for Further Losses
Should XRP fail to break through the resistance zone at $2.080, it risks starting a new decline. Initial support is observed near the $1.950 level, followed by major support at $1.920. A downside break and close below the $1.920 level could signal further declines toward $1.880. The next significant support level below this is near $1.8450, below which the price could continue to decrease toward $1.80.
Impact on the Crypto Market
- XRP’s decline below the $2.050 mark reflects a broader bearish sentiment in the market.
- Resistance levels at $2.050 and $2.080 may hinder any potential recoveries.
- Continued downward movement could influence trader sentiment and market dynamics for other cryptocurrencies.
- The establishment of key support levels will be crucial for XRP to avoid further declines.
- The current technical indicators suggest a strengthening bearish trend, which may impact overall market confidence.
Updated: 11/21/2025, 5:25:18 AM
