XRP price started a fresh decline below the $2.00 zone. The price is now 
correcting losses and faces resistance near the $2.050 level. XRP price 
started a fresh decline below the $2.050 zone. The price is now trading below 
$2.020 and the 100-hourly Simple Moving Average. There is a key bearish trend 
line forming with resistance at $2.020 on the hourly chart of the XRP/USD pair 
(data source from Kraken). The pair might start a fresh increase if there is a 
close above the $2.050 resistance zone. XRP Price Faces Resistance XRP price 
reacted to the downside below the $2.120 support zone, like Bitcoin and 
Ethereum. The price declined below the $2.050 and $2.020 support levels. The 
pair tested the $1.920 support A low was formed at $1.910 and the price 
started to recover losses. There was a minor recovery wave above the 23.6% Fib 
retracement level of the downward move from the $2.178 swing high to the 
$1.910 low. The price is now trading below $2.020 and the 100-hourly Simple 
Moving Average. On the upside, the price might face resistance near the $2.020 
level. There is also a key bearish trend line forming with resistance at 
$2.020 on the hourly chart of the XRP/USD pair. The first major resistance is 
near the $2.050 level or the 50% Fib retracement level of the downward move 
from the $2.178 swing high to the $1.910 low. The next resistance is $2.080. A 
clear move above the $2.080 resistance might send the price toward the $2.120 
resistance. Any more gains might send the price toward the $2.150 resistance 
or even $2.20 in the near term. The next major hurdle for the bulls might be 
$2.250. Another Drop? If XRP fails to clear the $2.050 resistance zone, it 
could start another decline. Initial support on the downside is near the 
$1.950 level. The next major support is near the $1.920 level. If there is a 
downside break and a close below the $1.920 level, the price might continue to 
decline toward the $1.880 support. The next major support sits near the $1.840 
zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing 
pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for 
XRP/USD is now below the 50 level. Major Support Levels – $1.950 and $1.920. 
Major Resistance Levels – $2.020 and $2.050.

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