XRP has started a fresh decline, falling below the $2.00 mark. The price is now trading under $2.00 and below the 100-hour Simple Moving Average, struggling to overcome resistance near $2.020. A bearish trend line is forming around this level on the hourly XRP/USD chart.
The price attempted a recovery above $2.120 but failed to sustain gains, leading to a drop below $2.050 and $2.020. After forming a low near $1.9525, XRP saw a minor correction, retracing above 50% of the recent decline from the $2.047 high. However, selling pressure remains near $2.00 and $2.020.
If the price manages to move higher, it will first face resistance at $2.00, followed by the key $2.020 level, which aligns with the 61.8% Fibonacci retracement level. A close above $2.020 could push the price toward $2.050, with further hurdles at $2.080 and $2.120. Beyond that, resistance levels are seen at $2.150, $2.20, and $2.250.
On the downside, if XRP fails to break above $2.020, it could resume its decline. Initial support lies near $1.9650, with major support at $1.950. A break and close below $1.950 may lead to further losses toward $1.920, followed by $1.880 and potentially $1.820.
Technical indicators show bearish momentum, with the hourly MACD gaining pace in negative territory and the RSI below the 50 level.
Major Support Levels: $1.950, $1.920
Major Resistance Levels: $2.020, $2.050
Frequently Asked Questions
FAQs XRP Price Hovers Around 20Will It Break Through or Pull Back
BeginnerLevel Questions
Q1 What does it mean when we say XRP is hovering around 20
A It means the price of XRP is fluctuating very close to the 200 mark repeatedly testing that level without decisively moving significantly higher or lower for a sustained period
Q2 Why is the 20 price level so important
A Round numbers like 20 often act as major psychological barriers They can become key support or resistance making the price action at this level critical for determining the next trend
Q3 What would a breakthrough above 20 look like
A A breakthrough or breakout would occur if XRPs price closes decisively above 20 on significant trading volume and holds above it This suggests strong buying pressure and could lead to a move toward higher price targets
Q4 What would a pullback from 20 look like
A A pullback would happen if the price fails to hold near 20 and drops back to a lower level like 180 or 170 This indicates selling pressure is overcoming buying interest at that key level
Q5 What are the main factors that could push XRP above 20
A Major factors include positive developments in Ripples ongoing legal case with the SEC broader cryptocurrency market rallies significant adoption news for Ripples payment solutions and increased overall investor optimism
Q6 What are the main risks that could cause a pullback
A Key risks include negative news in the SEC lawsuit a general downturn in the crypto market profittaking by investors who bought at lower prices or a lack of sustained buying volume to push through the resistance
Advanced Strategic Questions
Q7 How do traders use technical analysis at key levels like 20
A Traders watch for patterns on the price chart They look for