XRP Price Slips Toward $2.00, Increasing Pressure on Short-Term Support Levels
Overview
XRP price is currently experiencing a decline, having moved below the $2.250 mark. The cryptocurrency is showing bearish signs, indicating potential further losses if it drops below key support levels.
Current Price Movement
XRP price started a fresh decline from the $2.250 zone, trading below $2.20 and the 100-hourly Simple Moving Average. A bearish trend line has formed, presenting resistance at $2.220 on the hourly chart of the XRP/USD pair. If the price settles below $2.120, it may continue to move downward.
Despite an attempt at recovery above $2.30, XRP failed to maintain momentum, similar to the trends observed in Bitcoin and Ethereum. Following its decline, XRP moved below the $2.150 support level, forming a low at $2.105. Currently, the price is consolidating losses while remaining below the 23.6% Fibonacci retracement level of the downward movement from a recent swing high to a low.
If there is any upward movement, XRP might encounter resistance near the $2.20 level, with significant resistance at $2.220. A close above this trend line could potentially lead the price to $2.28, while additional hurdles are located at $2.320 and the 50% Fibonacci retracement level of the previous downward move.
Potential for Further Decline
Should XRP fail to overcome the $2.220 resistance zone, a further decline could ensue. Initial support is located around the $2.120 level, with a major support level near $2.10. If XRP breaks below $2.10 and closes under this level, it could continue to decline toward $2.050. Below this, the next significant support zone is at $2.020, and a further breakdown could lead the price toward $1.880.
Impact on the crypto market
- XRP has shown a bearish trend, indicating potential market volatility.
- Resistance levels at $2.20 and $2.220 could influence trading decisions for investors.
- The failure to maintain above key support levels may lead to broader declines in investor confidence.
- The price movement of XRP may reflect similar trends observed in other major cryptocurrencies like Bitcoin and Ethereum.
- Ongoing bearish indicators, such as the MACD and RSI, suggest that the market may remain cautious in the near term.
Updated: 11/18/2025, 4:30:39 AM
