Bears can break XRP price momentum
XRP tried to break the $2,350 barrier. It is stuck near $2.20, and the price is in a downtrend.
XRP is trying to break the $2,250 barrier.
Price is above $2.25 and 100 hour SMA.
On the hourly XRP/USD chart, a descending channel is forming with resistance around $2.288.
The pair may rise if it breaks the $2.30 barrier.
XRP price drops again
Like Bitcoin and Ethereum, XRP rose above $2.20. Above $2.25 and $2.30, prices surged.
The price tested $2.35 before the bears appeared. After reaching $2.348, the price is in a correction. The price fell below $2.30. The price fell below the 23.6% Fibonacci retracement line from the $2.130 low to $2.348 high.
The price is above $2.25 and the 100-hour SMA. The price may find resistance at $2.288 on the upside. On the hourly XRP/USD chart, a major descending channel is forming with resistance around $2.288.
Near $2.30 is the first major hurdle. $2.35 is the next resistance. A clean break above $2.35 could push the market above $2.50.
Further advance may push the price towards $2,550 or $2,650. Bears may face $2,720 next.
Another fall?
XRP could decline again if it fails to break $2.30. Near $2.24 is the first bearish support. The next major support is $2,210, the 61.8% Fib retracement level of the upward rise from the $2,130 low to $2,348 high.
If the price drops and closes below $2,210, it could drop near $2,150. Near $2,050 is the next important support.