The Mysterious Tale of XRP’s Woes: A Price Drop or Just a Dramatic Pause?

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Ah, the price of XRP, ever the fickle creature, had ventured boldly above the $2.20 mark. Alas, it now finds itself in the midst of a rather gracious correction, perhaps to be welcomed with open arms at the $2.050 zone. How very typical.

  • Our dear XRP began a rather ungraceful descent from the $2.250 resistance zone, such a noble effort at rising, but no, not quite.
  • It now resides beneath the $2.120 line, and, lo and behold, the 100-hourly Simple Moving Average seems to have turned its back on it.
  • One might say the price was unceremoniously cast down below a connecting bullish trend line at $2.140 on the hourly chart of the XRP/USD pair (a tale chronicled by Kraken’s watchful eye).
  • Should it fall further and breach the $2.050 support, the price may sink even deeper. The suspense is almost unbearable.

XRP Price Dips Once More – Will It Ever Learn?

Indeed, the noble XRP attempted an ascent, much like Bitcoin and Ethereum, surpassing the $1.980 resistance. However, the ambition was short-lived, as it faltered at $2.244 and has since begun its descent into the abyss below $2.120.

Alas, the journey has not been kind: it dipped beneath the 50% Fib retracement of the recent upward rise. XRP finds itself sadly beneath the 100-hourly Simple Moving Average, a most unflattering state for such an aspiring coin.

On the bright side, should it rally (though let us not hold our breath), resistance may be met at the $2.120 level. The first true challenge lies at $2.180. Should it somehow push beyond $2.20, we may be treated to a drama-filled ascent to $2.250 and beyond. But, dare I say, such ambitions might be nothing more than fantasies?

Could Another Decline Be on the Horizon?

Should XRP fail to conquer the $2.120 resistance, one can only assume the downward spiral shall resume. The first support to await it is near $2.050, though the more substantial barricade lies at $2.00.

If the price dares to break below $2.00, prepare yourselves for a somber decline towards the $1.920 support. One may even dream of $1.840 should it persist in its melancholy descent.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is moving deeper into the bearish realm. How dreadfully unfortunate.

Hourly RSI (Relative Strength Index) – The RSI sits below 50, a sign of the struggle within the price’s soul.

Major Support Levels – $2.050 and $2.00, should it reach such depths.

Major Resistance Levels – $2.120 and $2.180, if it dares to rise.

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2025-04-16 07:20