XRP price attempted a recovery above $2.00 but faced resistance near $2.020. The price is now showing bearish signals and could drop below $1.95. Currently, it is trading below $2.00 and the 100-hour Simple Moving Average. A new bearish trend line is forming with resistance at $2.030 on the hourly XRP/USD chart (data via Kraken). If the price settles below $1.950, the decline may continue.
XRP found support above $1.850 and began to recover, similar to Bitcoin and Ethereum. It climbed above $1.950 and $1.980, entering a short-term positive zone, and even surpassed the 50% Fibonacci retracement level of the drop from the $2.065 high to the $1.847 low. The price briefly spiked above $2.00 but was unable to break the $2.020 resistance. With the price now below $2.00 and the 100-hour SMA, any upward move could face resistance near $2.00. The first major resistance is around $2.020, which aligns with the 83.2% Fibonacci retracement level. A close above $2.020 could push the price toward $2.065, with further hurdles at $2.10, $2.150, $2.20, and $2.250.
If XRP fails to overcome the $2.020 resistance, it could start another decline. Initial support lies near $1.950, followed by $1.9320. A break and close below $1.9320 might lead to a drop toward $1.850, with further support at $1.820 and potentially $1.750.
Technical Indicators
– Hourly MACD: Gaining momentum in the bearish zone.
– Hourly RSI: Below the 50 level.
– Major Support Levels: $1.950 and $1.9320.
– Major Resistance Levels: $2.00 and $2.020.
Frequently Asked Questions
FAQs XRP Price Faces Resistance in Recovery Bulls Lose Steam
BeginnerLevel Questions
1 What does it mean when a price faces resistance
It means the price is struggling to rise above a specific level Think of it like a ceilingevery time the price reaches that point selling pressure increases and pushes it back down preventing further gains
2 Who or what are the bulls in crypto
Bulls are traders or investors who believe the price will go up They are the buyers who create upward momentum When news says bulls lose steam it means this buying pressure and optimism are weakening
3 Why is XRP having trouble recovering its price
Several factors can combine a key resistance level it cant break a lack of major positive news to drive new buying general uncertainty in the broader crypto market or profittaking by traders after a previous rise
4 Is this a bad sign for XRP Should I sell
Not necessarily Hitting resistance is a normal part of market cycles It indicates a pause or consolidation Whether you should sell depends entirely on your personal investment strategy risk tolerance and longterm viewnever solely on one headline
5 Whats the opposite of resistance
The opposite is support This is a price level where buying pressure typically increases and prevents the price from falling further acting like a floor
Intermediate Advanced Questions
6 How do traders identify these resistance levels
Traders use technical analysis primarily by looking at charts They identify levels where the price has historically reversed downward multiple times or they use moving averages and trendlines that the price has failed to break
7 What needs to happen for XRP to break through this resistance
It typically requires a strong catalyst such as
A significant spike in trading volume during an upward move
A major positive development
A broader crypto market rally that lifts all major tokens
8 What is a bull trap in this context
A bull trap is a false signal It happens when the price appears to break above resistance luring in buyers but then