Like a stray refrigerator in the frosty Siberian winds, XRP price whimsically tumbles below the $3.050 resistance, a reminder of human folly in the financial tundra. It shivers below $3.00, wracked with anticipation of greater misfortunes.
- XRP price deigns to decline below the scornful $3.020 and $3.00 levels.
- The beleaguered price now daintily trades below the merciful $3.00 and the 100-hourly Simple Moving Average. A new nadir beckons.
- A defiant bearish trend line carves its malice upon the hourly chart of the XRP/USD pair, courtesy of data from the stirring fortitude of Kraken, offering no solace at $3.00.
- Should the price continue its descent beneath the impertinent $3.10 zone, further calamity is assured.
Red as the Bolsheviks: XRP Price Dips
In an unfortunate mimicry of Bitcoin and Ethereum, XRP price languishes in its bearish torment after a stubborn scandal with the $3.120 level. Bereft of higher support, it trudges below the $3.00 sanctuary.
Thus, it wallows, begrudgingly dropping beneath $2.920 to parley with the beleaguered $2.850. In the recesses of its despair, a nadir is struck at $2.850, ensnared in its consolidation just under the remorseless 23.6% Fib retracement of its downward journey from the $3.095 bastion to the $2.850 abyss.
Trading below the once-coveted $3.00 and the 100-hourly Simple Moving Average, XRP dares to entertain the notion of surging upwards, only to confront the oppressive resistance near the $2.90 level. The first major, and principal shackle, resides at the $2.920 level.
A daring traversal above that resistance might hurl it toward the familiar yet transient refuge at $3.00. There, aligned with the exacting 50% Fib retracement of its downward pilgrimage, a bearish trend line hovers ominously.
Should fortune grace it with newfound gains, XRP could ambitiously approach the $3.050 gate, a mere prologue to its next arduous ascent towards the $3.120 ramparts.
Onwards to More Desolation?
If XRP can scarce surmount the $2.920 bulwark, a fresh decline could be unleashed. Initial sanctuary lies pitifully near $2.850. The next bastion stands forlornly at $2.80.
Should it succumb to a descent and breach this sorrowful $2.80 level, the price could inexorably spiral toward the $2.740 long-forgotten depths. The ultimate obstacle to capitulation nests near $2.720, forewarning of a more grievous downfall.
Technical Indicators
Hourly MACD – Like a relentless wind sweeping across the icy tundra, the MACD for XRP/USD rages worse within the bearish plane.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD falls dolorously below the median of 50.
Major Support Levels – $2.850 and $2.740.
Major Resistance Levels – $2.920 and $3.00.
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2025-08-20 07:18