Will Support at $2.10 Hold Amidst Bearish Momentum?
The post Will Support at $2.10 Hold Amidst Bearish Momentum? appeared on BitcoinEthereumNews.com.
XRP price today remains under pressure after failing to hold above the $2.18 resistance, slipping below key moving averages and testing a critical horizontal demand zone. Despite broader crypto resilience, XRP price action has remained sluggish, with no meaningful breakout since early May. Traders are now eyeing whether the $2.08–$2.10 support can cushion the ongoing slide or if deeper retracements lie ahead. Trendline Breaks and Consolidation: What’s Happening with XRP’s Price? XRP/USD price dynamics (Source: TradingView.) The XRP price on the 4-hour chart reveals a clear rejection from the $2.24 zone—aligned with both the 0.236 Fibonacci level and the upper Bollinger Band. This rejection was followed by a downward slope beneath the 20, 50, and 100 EMAs, which all converge near $2.17–$2.18, now acting as short-term resistance. A bearish pennant breakdown on the 30-minute chart further accelerates downside pressure, confirming the loss of bullish momentum. Support between $2.08 and $2.10 is holding for now, bolstered by an earlier demand cluster and the 0.382 Fibonacci retracement (approx. $2.07) from the April impulse move. A breach below this level could quickly push XRP price into the $1.98–$2.00 zone, marking the 0.5 Fib level and next major liquidity zone. On the upside, a reclaim of the $2.18 mark is required to ease the current bearish bias. Until then, range bound movement within $2.08–$2.18 is the most probable outcome for XRP price today. RSI and MACD Signal Weakness as XRP Lingers Near Critical Support XRP/USD price dynamics (Source: TradingView.) Momentum indicators on the 4-hour chart highlight prevailing weakness. The RSI reads at 36.37, deep in bearish territory, while the MACD histogram shows persistent red bars with the signal line below zero. These signals align with the broader bearish trend and validate the short-term XRP price volatility. However, the Stochastic RSI is now hovering around…
Filed under: News - @ May 6, 2025 8:24 am