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02/12/25 05:28 UTC-04

XRP Price Fluctuates Near a Key Support Level

The price of XRP attempted to recover and climb above $2.150 but failed to continue higher as Bitcoin and Ethereum did. The price started a new decline and dropped below $2.10 and $2.050.

The price moved below the $2 support level. A low was formed at $1.984, and the price is now consolidating losses below the 23.6% Fibonacci retracement level of the downward move from the $2.275 high to the $1.984 low.

The price is currently trading below $2.050 and the 100-hour simple moving average. If a fresh increase occurs, the price may face resistance at $2.050. The first major resistance is located at $2.120. A bearish trend line with resistance at $2.120 is also forming on the hourly XRP/USD chart. This is close to the 50% Fibonacci retracement level of the decline from the $2.275 high to the $1.984 low.

A close above the $2.120 level could trigger a rise toward $2.20. The next hurdle is at $2.250. A clear move above the $2.250 resistance level might lead to an increase toward the $2.2850 resistance. Further gains could push the price toward the $2.350 resistance. The next major barrier for the bulls could be around $2.40.

More losses?
If XRP fails to clear the resistance zone at $2.050, another decline could begin. Initial support on the downtrend is near the $2.00 level. The next major support is near $1.9850.

If a downside break occurs and the price closes below $1.9850, it could continue falling toward $1.920. The next major support is in the $1.880 area, below which the price might continue declining toward $1.820.

Technical Indicators

• Hourly MACD — The MACD for XRP/USD is losing momentum in the bearish zone.
• Hourly RSI — The RSI for XRP/USD is now below the 50 level.

Key support levels: $2.00 and $1.9850.
Key resistance levels: $2.050 and $2.120.

See also: "Dogecoin Drops Below Key Support"

#XRP (XRP) #Key Support Level

Editor: Pereyidenko Ihor
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