XRP Price Targets Bounce; Traders Watch $2.30 Resistance Level

XRP price started a fresh decline below $2.350, showing bearish signs and facing the risk of further losses below $2.120 in the near term. It lost momentum, trading below $2.250 and the 100-hourly Simple Moving Average (SMA). Additionally, a bearish trend line is forming with resistance at $2.250 on the hourly chart of the XRP/USD pair (data source: Kraken). However, if XRP holds above $2.150, a recovery wave could be initiated.

The XRP price continued in a bearish zone below $2.50, mirroring trends seen in Bitcoin and Ethereum. It broke through critical levels at $2.350 and $2.30, marking increased bearish momentum after closing below $2.250. The price tested a low of $2.066 before correcting slightly. It climbed above the 23.6% Fib retracement level of the downward move from $2.552 (swing high) to $2.066 (low) but remained below key resistances including $2.30 and the 100-hourly SMA.

If there's a recovery, XRP could face significant resistance around the $2.250 level, which aligns with the bearish trend line noted earlier. The first major resistance lies near $2.30, and if cleared, the price might progress toward $2.3650, correlated to the 61.8% Fib retracement level of the same downward move. Beyond these points, additional resistances may emerge at $2.420, $2.450, and ultimately at $2.50.

Should XRP fail to break the $2.30 resistance zone, it may face renewed bearish pressure. The initial support lies near $2.180, followed by more critical support at $2.150. A sustained break below $2.150 could drive the price toward $2.050, and potentially to $2.00 or as low as $1.850 in the event of severe declines.

• Hourly MACD: Losing pace in the bearish zone.
• Hourly RSI (Relative Strength Index): Positioned below the critical 50 level.
• Major Support Levels: $2.180 and $2.150.
• Major Resistance Levels: $2.250 and $2.30.