XRP Stalls—Are Bears In Control?

From $2.20, XRP fell again. The price is consolidating and may encounter challenges at $2.120.

XRP resumed its slide after failing to break $2.20 barrier.
The price is below $2.150 and the 100-hour SMA.
On the hourly XRP/USD chart, a negative trend line connects to resistance at $2.120.

If it fails to break $2.20, losses may continue.
Rejecting XRP Price

XRP fell like Bitcoin and Ethereum after failing to get beyond $2.20. The price fell below $2.150 and $2.120.

Bears pushed the price below the 50% Fib retracement line of the rebound wave from $2.023 swing low to $2.199 high. On the hourly XRP/USD chart, a negative trend line connects to resistance at $2.120.

The price is below $2.150 and the 100-hour SMA. However, bulls are aggressive at $2.10 support. They are defending the recovery wave's 61.8% Fib retracement from $2.023 swing low to $2.199 high.

Price may find resistance between $2.120 and the trend line zone on the upside. Near $2.150 is the first big obstacle. The next hurdle is $2.20. A clean break over $2.20 might push the market above $2.240. More advances might push the price toward $2.2650 or $2.2880. The bulls may face $2.320 next.

Another Fall?

XRP may fall again if it fails to break $2.150. Initial downside support is $2.10. Near $2.0650 is the next important support.

If the price breaks down and closes below $2.0650, it may fall toward $2.020. Near $2.00 is the next important support.

Tech Indicators

The hourly MACD for XRP/USD is moving bearishly.

Relative Strength Index hourly XRP/USD RSI is below 50.

Major Support Levels: $2.10, $2.050.

Two major resistance levels: $2.120 and $2.20.

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