XRP Price Recovery Faces Strong Resistance, Upside Threatened

XRP recovered over $1.950 but collapsed around $2.00. The price is displaying negative signals and may go below $1.920.

The XRP price launched a rebound over $1.950.

The price is below $2.00 and the 100-hourly SMA.

On the hourly XRP/USD chart, a negative trend line with resistance at $2.00 is formed.

The pair may fall if it breaks $1.920.
Key Challenge for XRP Price

Like Bitcoin and Ethereum, XRP recovered over $1.8650. Price rose over $1.90 and $1.920 into a short-term bullish zone.

Moving beyond the 50% Fib retracement level of the decline from the $2.028 swing high to the $1.868 low. Price surged over $1.980 before bears emerged. Bulls failed to break $2.00 resistance. On the hourly XRP/USD chart, a negative trend line with resistance at $2.00 is formed.

The price is below $2.00 and the 100-hourly SMA. If there is a new upward advance, the price may encounter resistance at $1.990 or the 76.4% Fib retracement level of the bearish move from $2.028 swing high to $1.868 low.

First significant resistance is around $2.00. Close over $2.00 might drive price to $2.0650. The next obstacle is $2.10. A clean break over $2.10 might push the market above $2.150. More advances might push pricing near $2.20 barrier. The bulls may face a severe test at $2.250.

Another Drop?
XRP may fall if it fails to break $2.00 barrier. Near $1.920 is first downside support. Near $1.90 is the next important support.

If the price breaks down and closes below $1.90, it may fall toward $1.8650. The price might fall to $1.750 below the next key support at $1.820.

Major Support Levels: $1.920, $1.90.

Two major resistance levels: $2.00 and $2.065.

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