XRP Price Weakens Again, Key Demand Area Tested After Steady Downmove
Overview
XRP has experienced a fresh decline, moving below the $2.150 mark. This decline has led the price to test key support levels while facing resistance in its attempts to recover.
Recent Price Movements
XRP price started a new downward trend, falling below the $2.150 level. The current trading status is below both the $2.150 mark and the 100-hourly Simple Moving Average. A bearish trend line is forming with resistance at $2.150 on the hourly chart of the XRP/USD pair. The price has also dipped below the $2.10 zone and the $2.050 support level, reaching a low of $2.025 before attempting a recovery.
Despite an earlier attempt to rise above $2.20, XRP has struggled to maintain upward momentum, similar to trends seen in Bitcoin and Ethereum. The price is currently testing the 23.6% Fibonacci retracement level of the decline from the $2.525 swing high to the $2.025 low. If the price can move upward, it may encounter resistance approaching the $2.140 level.
The first significant resistance level remains near $2.20. A close above this threshold could potentially lead the price towards $2.250. Further resistance levels include $2.2750, which aligns with the 50% Fibonacci retracement level of the earlier downward movement, and $2.320. Should the bulls manage to push the price higher, the next major hurdle would be around $2.420.
Potential for Further Decline
If XRP fails to overcome the resistance at $2.150, there is a risk of further declines. The initial support on the downside is around the $2.050 level, with the next significant support near $2.020. A break and close below the $2.020 level may lead to a continued decline towards $1.9650, with additional support at the $1.920 zone. Should the price drop below this level, it could further decline towards $1.880.
Technical Indicators
- Hourly MACD: The MACD for XRP/USD is currently losing momentum within the bearish zone.
- Hourly RSI: The RSI for XRP/USD is above the 50 level, indicating some bullish strength.
- Major Support Levels: $2.050 and $2.020.
- Major Resistance Levels: $2.150 and $2.250.
Impact on the Crypto Market
- XRP’s recent price movements reflect broader trends in the cryptocurrency market, particularly the challenges faced by major tokens.
- The testing of key resistance and support levels could influence trader sentiment and market dynamics.
- A failure to recover could lead to increased bearish sentiment across the crypto sector.
- The performance of XRP may impact the trading strategies of investors involved with other cryptocurrencies, particularly those correlated with XRP.
Updated: 11/20/2025, 4:27:56 AM
