XRP in Peril: Will It Crumble Below $2.00? 😱💸

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XRP in Peril: Will It Crumble Below $2.00? 😱💸“`html

XRP in Peril: Will It Crumble Below $2.00? 😱💸

The XRP price, much like a gentleman down on his luck, has begun to falter below the once respectable $2.20 figure. With the air of a disgraced aristocrat, it now exhibits a few rather bearish signs—ominous indeed—and may well descend beneath the $2.050 mark.

  • After a futile attempt to breach the $2.220 resistance zone, XRP price embarked on a new decline, reminiscent of a failed social climber.
  • It now trades below $2.150, with the100-hourly Simple Moving Average looking down upon it disapprovingly.
  • A connecting bearish trend line, like a stern butler, has formed with resistance at $2.1480 on the hourly chart of the XRP/USD pair, with data, of course, from Kraken.
  • The pair might extend its losses if it breaks the $2.050 support zone, like a gentleman losing his last farthing at the races.

Alas, XRP’s price could not muster the courage to ascend beyond the $2.220 resistance zone and instead took a leaf out of the book of Bitcoin and Ethereum, reacting to the downside. It slumped below the $2.20 and $2.120 levels, and even flirted with the $2.080 zone, forming a low at $2.081. It is now consolidating its losses, a picture of defeat.

Trading below $2.150 and the100-hourly Simple Moving Average, it finds itself in bearish territory, much like a character from one of Waugh’s novels—below the23.6% Fib retracement level of the recent decline from the $2.215 high to the $2.081 low.

On the upside, the XRP price faces resistance near $2.150, with a bearish trend line forming resistance at $2.148 on the hourly chart. This trend line, near the50% Fib retracement level of the recent decline, appears as formidable as an upper-class dowager at a social gathering.

The first major resistance is near $2.180, with the next at $2.20. A clear move above this could see the price aspire to the $2.250 resistance, or even dream of $2.280 or $2.30 in the near term. The next major hurdle for the bulls, a veritable Everest, might be $2.320.

However, if XRP falters at the $2.15 resistance zone, it may well embark on another decline. Initial support on the downside is at the $2.080 level, with the next major support at $2.050.

Should the price break and close below $2.050, it might continue its descent towards the $2.00 support, a fall from grace indeed. The next major support, like the last refuge of a scoundrel, sits near the $1.880 zone.

Technical Indicators:

Hourly MACD – The MACD for XRP/USD is gaining pace in the bearish zone, much like a scandal spreading through high society.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the50 level, a clear sign of disrepute.

Major Support Levels – $2.080 and $2.050, akin to the last loyal servants of a fallen house.

Major Resistance Levels – $2.150 and $2.20, as formidable as the walls of an old family estate.

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2025-03-31 07:20