XRP price advanced past $2.22 but failed to sustain momentum above $2.28, with technical patterns indicating another decline could push the token below $2.15. The cryptocurrency now trades near $2.18 and faces multiple resistance levels as bearish signals emerge across key indicators.
What Happened: Rally Stalls
XRP mounted an upward move from $1.82 to $2.29 before losing momentum, according to data from Kraken, interpreted by NewsBTC. The token broke through the $2.20 resistance zone and briefly climbed above $2.24, reaching an intraday high of $2.29.
The price has since retreated below the 23.6% Fibonacci retracement level of the rally from the $1.82 swing low to the $2.29 high. XRP currently trades near $2.18, just above the 100-hour simple moving average, while a bearish trend line has formed with resistance at $2.23 on the hourly chart. Bulls face immediate resistance at $2.23, followed by more substantial barriers at $2.25 and $2.29.
A breakthrough above $2.29 could drive the price toward $2.35, with additional resistance levels at $2.43 and $2.50. However, failure to clear the $2.25 zone would likely trigger fresh selling pressure.
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Why It Matters: Downside Risk
Initial support sits at $2.15, with the next major floor near $2.10. A close below $2.10 would expose the 50% Fibonacci retracement level at $2.05, analysts note. The MACD indicator on the hourly chart shows weakening bullish momentum, while the relative strength index has dropped below 50, signaling diminishing buying pressure.
Further declines could push XRP toward $2.00, with extended losses potentially reaching $1.93. The technical setup suggests limited upside potential unless buyers can reclaim the $2.25 resistance zone and sustain trading above the bearish trend line.
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