Can XRP coin bulls go back to the attack? These levels are critical!

The XRP Coin price recovered from the lowest level of $ 1.94 on February 28, but is still traded under a significant resistance zone. Will the price of XRP fall even more in the coming days? Crypto analyst Nancy Lubale, He’s looking for an answer to this question.

XRP Coin price should hold over $ 2.00!

The current decrease in the price of Ripple (XRP) is a part of a correction that started on March 3 and sees that the relative power index (RSI) fell sharply after the XRP fell from $ 3.00.

In this context, the lock levels to be followed are important. XRP bulls are focused on defense from $ 2,00. This level has not been broken since December 1st. RSI 42 is below the middle line, which shows that the market conditions are still downward. The XRP may extend its decline to the lowest level of the last range to $ 1.76 (on February 3) and the 200 -day SMA can extend it to the $ 1.61 support level.

XRP/USD daily graph. Source: TradingView

These levels are critical for bulls!

The rise for Altcoin depends on the XRP’s resistance between $ 2,53 and $ 2.62 into support. These levels are also 100 days and 50 -day SMAs. A closure above 50 -day SMA may pave the way for return to $ 3.00 or over $ 3.40, the highest level of seven years. The XRP liquidation shows that the 24 -hour liquidation heat map graph is a large purchase set of around $ 2.00.

XRP Liquidation Heat Map. Source: coinglass

The bulls are trying to regain their forces after they have not been able to maintain the acceleration for the last few weeks. The XRP’s 66 %rise between February 3 and March 2 was stopped due to a $ 3,00 supplier jam. However, as shown in the graph below, the XRP CoIN still confirms a bull flag formation in the weekly time period. The price is currently based on $ 2.16 support on the upper limit of the flag.

XRP/USD weekly graphics. Source: TradingView

However, the decline tendency produced by MACD shows that XRP may fall further than existing levels. Therefore, if the XRP closes below $ 2.16, which is a weekly support level, it will return to the flag limits that it can continue to be consolidated for several weeks. If the critical 2 dollar level is broken, the XRP CoIN may fall towards $ 1.46 with its 50 -week exponential moving average (EMA), especially as the excitement around the US strategic reserve decreases.