Bulls Cannot Break Through XRP Price Momentum

XRP tried to breach $2.350 barrier. Stumbling near $2.20, the price is falling.

XRP is trying to break $2.250 barrier.
The price is above $2.25 and the 100-hour SMA.

On the hourly XRP/USD chart, a declining channel with resistance around $2.288 is formed.

The pair may rise if it breaks $2.30 barrier.
The XRP Price Falls Again

Like Bitcoin and Ethereum, XRP rose beyond $2.20. Above $2.25 and $2.30, prices rose.

The price tested $2.35 before bears emerged. After reaching $2.348, the price is correcting. Price fell below $2.30. The price fell below the 23.6% Fib retracement line of the $2.130 swing low to $2.348 high.

The price is above $2.25 and the 100-hour SMA. Price may find resistance at $2.288 on the upside. On the hourly XRP/USD chart, a significant declining channel with resistance around $2.288 is formed.

Near $2.30 is the first substantial obstacle. $2.35 is next resistance. A clean break over $2.35 might push the market above $2.50.

More advances might push the price toward $2.550 or $2.650. The bulls may face $2.720 next.

Another Fall?
XRP may fall again if it fails to break $2.30. Near $2.24 is first downside support. The next key support is $2.210, the 61.8% Fib retracement level of the bullish run from $2.130 swing low to $2.348 high.

If the price breaks down and closes below $2.210, it may fall near $2.150. Near $2.050 is the next important support.

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