XRP declined below the $2.00 threshold and now faces resistance near $2.020, with technical indicators suggesting further downside risk. The token dropped to $1.9525 before attempting a partial recovery that stalled below key resistance levels.
What Happened: Price Decline
XRP attempted a recovery above $2.120 but failed to sustain upward momentum, mirroring weakness in Bitcoin and Ethereum.
The price fell through the $2.00 support level, reaching a low of $1.9525.
The token subsequently recovered above the 50% Fibonacci retracement level of its decline from $2.047 to $1.952. However, selling pressure intensified near $2.00 and $2.020, preventing further gains.
A bearish trend line has formed with resistance at $2.020 on the hourly chart of the XRP/USD pair, according to data from Kraken. The price now trades below both the $2.00 mark and the 100-hourly Simple Moving Average.
If XRP breaks above $2.020, the next resistance levels sit at $2.050 and $2.080. A clear move above $2.120 could push the price toward $2.150, with additional resistance at $2.20 and $2.250.
Also Read: Mark Cuban's 'Musical Chairs' Warning Preceded Memecoin Market's 60% Plunge
Why It Matters: Technical Breakdown
If XRP fails to clear the $2.020 resistance zone, it could trigger a fresh decline toward initial support at $1.9650. The next major support level sits at $1.950.
A close below $1.950 could accelerate losses toward $1.920 and $1.880. Further downside below $1.880 would target the $1.820 support zone, according to technical analysis.
The hourly MACD indicator is gaining momentum in the bearish zone. The Relative Strength Index has fallen below 50, signaling weakening buying pressure.
Major support levels include $1.950 and $1.920, while key resistance stands at $2.020 and $2.050.
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