XRP Price Drops Toward $2.00: Can Bulls Defend This Critical Support Level?

XRP's price experienced a fresh decline, falling below the $2.20 mark. Currently, the price is in a consolidation phase, attempting to recover. It's trading above $2.150 and the 100-hourly Simple Moving Average. A break below a bullish trend line occurred, with support at $2.192 on the hourly chart. If XRP overcomes the $2.120 resistance, it could initiate another price increase. The price tested the $2.050 zone after failing to break above the $2.220 level, mirroring Bitcoin and Ethereum. Resistance levels are observed at $2.120, $2.150, and then $2.175. Conversely, if $2.15 resistance holds, further declines towards $2.050 and $2.020 are possible. Technical indicators show the MACD in a bearish zone and RSI below 50, suggesting bearish momentum.