XRP’s price has entered bearish territory, plummeting below the critical $2.00 psychological level in a move that mirrors the broader crypto market downturn. As recent market data shows massive liquidations across the crypto space, XRP traders are closely monitoring key support levels for potential recovery signals.
XRP Technical Analysis: Breaking Down the Bearish Move
The latest price action shows XRP breaking several critical support levels:
- Price dropped decisively below $2.00 and $1.880 support zones
- Trading activity now concentrated below the 100-hourly Simple Moving Average
- Critical bullish trend line broken at $2.120 support level
- Current consolidation phase near $1.797 suggesting potential further downside
Key Support and Resistance Levels to Watch
For traders looking to navigate this volatile period, these are the critical price levels to monitor:
| Support Levels | Resistance Levels |
|---|---|
| $1.80 | $1.850 |
| $1.7650 | $1.880 |
| $1.720 | $1.950 |
| $1.650 | $2.00 |
Technical Indicators Signal Bearish Momentum
Multiple technical indicators are confirming the bearish outlook:
- MACD showing increasing bearish momentum
- RSI trading below 50, indicating bearish control
- Price action forming lower lows and lower highs
Recovery Scenarios and Price Targets
For XRP to initiate a recovery, these key levels must be reclaimed:
- Immediate resistance at $1.850 must be broken
- $1.880 level represents the first major hurdle
- $1.950 zone could trigger a push toward $2.00
- Breaking above $2.00 could signal trend reversal
FAQ: XRP Price Action
Why is XRP price dropping?
The current decline aligns with broader market weakness and increased selling pressure across major cryptocurrencies.
What’s the next major support level?
The $1.7650 level represents crucial support, with $1.650 serving as the last line of defense.
When might XRP recover?
Recovery depends on broader market conditions and ability to reclaim the $1.880 resistance level.
Traders should maintain strict risk management given the current market volatility and watch for potential continuation of the bearish trend below $1.80.