Ripple price adheres to support .. Will the wave of recovery approach?

The Ribel price (XRP) witnessed a new decline after breaking the support area at $ 2.150 to continue the decline that started from higher levels, yet the currency still sticks to a decisive support line at $ 2.120, which opens the door to the possibility of a recovery if the bears fail to break this level.

The last price moves under pressure

The recent decline began after the price lost its support at $ 2.220, following Bitcoin and Ethereum, and the losses came fast, as the price broke the levels of 2.20 and $ 2.180 to finally reach the lowest level at $ 2.120.

Since then, the price began to move accidentally, trying to absorb losses and search for a chance to refuse.

Technical indicators give mixed signals

Technically, the price witnessed a slight breakthrough over a dumping trend line on the cursing graph, which gives a glimmer of hope that a wave of recovery be started, and the price managed to exceed the level of Fibonacci correction 23.6% for the last decline from the summit $ 2.335 to the bottom of $ 2.120, however the price remains at the level He imposes itself.

Next resistance and support points

If the price succeeds in exceeding the level of $ 2.180, the real test may be at the most prominent resistance area at $ 2.20, a pivotal point that should be accurately monitored.

This barrier exceeds the road may open about $ 2.225, and the gains may extend to 2.254 or even 2.30 dollars, as the next main barrier stands at $ 2.35.

As for the price failure to penetrate the resistance, the negative scenario may return strongly, as expectations indicate the possibility of a decline about 2.050 or even $ 2.020.

Technical indicators call for anticipation

In terms of technical indicators, the RSI Relative Index is currently standing near the level of 50, which reflects a state of temporary balance between the forces of purchase and sale.

As for the MACD, the courier index shows a slowdown in the landfill, which may indicate the market’s readiness for a corrective movement if it receives adequate support.