XRP dropped below a key support level, putting pressure on the digital asset as traders watch for further downside risk. The cryptocurrency fell beneath $2.150 and broke through a bullish trend line that had been holding at $2.180, with technical indicators suggesting continued weakness unless the token can reclaim the $2.10 pivot level.
What Happened: Price Breaks Support
XRP attempted to push above $2.150 but failed to sustain momentum, similar to movements in Bitcoin and Ethereum. The price declined below $2.120 and $2.10.
The token fell beneath the 50% Fibonacci retracement level measured from the $1.817 swing low to the $2.286 high, while breaking below the bullish trend line at $2.180 on the hourly chart.
The cryptocurrency now trades below the 100-hourly Simple Moving Average. If XRP attempts another upward move, resistance appears near $2.080. The first major barrier sits at $2.10, with a close above that level potentially pushing the price toward $2.120 and $2.150.
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Why It Matters: Downside Targets Emerge
The breakdown below key technical levels puts focus on lower price targets if selling pressure continues. Initial support on the downside rests near $2.00, which aligns with the 61.8% Fibonacci retracement level from the recent swing low to high, while the next major support level appears at $1.9250.
If the price closes below $1.9250, further declines could push XRP toward $1.850.
Additional support sits near $1.820 and $1.80. The hourly MACD indicator is gaining momentum in bearish territory, while the Relative Strength Index dropped below 50, reinforcing the negative technical outlook.
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