XRP/USD 4-Hour Chart (Binance) – Source: TradingView
Will this be the decisive move that ends up breaking it? The fact that the price has to return so many times to this level means that buying interest is quite weak. Hence, the price is looking for areas of high liquidity like this to find some strength for the next leg up.
This support is also relevant because it would mean a retest of a former trend line support for XRP from which the price has bounced off once.
If buyers show up, the price could eye the 200-period exponential moving average (EMA) and head to the $2.33 resistance next.
The Relative Strength Index (RSI) is free-falling and seems headed to touch oversold levels. This means that the downtrend is quite strong and this favors a scenario where the token breaks below that $2.10 barrier.
In that case, the next support to watch would be the psychological $2 threshold. At this point, a strong bounce would be highly likely, possibly to retest the $2.10 level from below.
