Why is XRP Price Going Down Today?

The price of XRP has been under pressure lately and traders are looking closely to the holes of some important levels in the charts. After recently reaching a high near $ 2.47, XRP has difficulty keeping stable and is recorded in a downward trend.

At the time of writing, XRP acts at around $ 2.17, somewhat recovering after falling to a low of $ 2.13 earlier. The price fights to stay above the important average level of $ 2.15, but it has not been easy.

Important levels to watch

At the moment Hertet XRP an important Fibonacci support zone between $ 2.10 and $ 2.15. This level has offered strong support in the past and Bulls will have to defend it to prevent further losses.

If the price below $ 2.10 drops and confirms with a daily candle close by, it can get worse. In that case, the following support levels to watch would be around $ 2.05 and possibly closer to $ 2.00.

A break under $ 2.00 can be bad news for XRP, with the risk of a fall to $ 1.80 – $ 1.70.

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Resistance on the way up

At the top, heavy resistance waits between $ 2.30 and $ 2.34, with more sellers probably about $ 2.44 and then between $ 2.56 and $ 2.62. Unless XRP can break these zones, it is unlikely that it will soon see strong bullish movements.

XRP’s recent decrease follows a wider market weakness. Bitcoin and other large cryptocurrencies also fell and tested important support levels after uncertainty about US Tariff News weighed on investor sentiment.

However, there is a silver lining for XRP holders. Ripple’s long -term legal battle with the SEC can approach its end, and if the outcome is favorable, it can reform the regulatory status of XRP. This would be positive for token and could give his prize a much needed boost in the near future.

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