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XRP (XRP) Price: Support Holds But Can Bulls Break Through $2.20 Wall?
The XRP price has managed to hold its support levels at around $2.085, but the cryptocurrency still faces a crucial hurdle at $2.20 as it seeks to climb higher and maintain momentum.
As XRP attempts to recover from its recent decline, technical indicators suggest potential further declines towards $2.00 if the token fails to breach this key resistance level.
In order for the bulls to break through the wall, they will need to push past this significant barrier of $2.20. If successful, it could potentially send the price toward $2.250 and then $2.320.
The current trend has been marked by declining buyer confidence due to multiple rejections at the $2.20 level. These consecutive failures have led to downward momentum for XRP.
Currently, the price is trading around $2.196 with minimal daily change, indicating a stagnation in movement and a hint of potential bearish activity.
This development raises concerns about the possibility of a decline toward $2.080 or potentially even sub-$2 levels if the resistance at $2.20 is not breached.
In conclusion, it is essential for XRP to overcome this critical resistance at $2.20 in order to gain momentum and recover from its recent downturn.
Source: coincentral.com
