XRP Price Crashes Hard: Is There A Recovery In Sight?

XRP price started a major decline below the $3.00 zone. The price is down over 25% and there was a spike below the $2.00 support zone.

 XRP Price Eyes RecoveryXRP price started a fresh decline below the $3.00 zone, like Bitcoin and Ethereum. The price declined heavily below the $2.80 and $2.50 support levels. The bears even pushed it below $2.00.There was a sharp drop of over 25% and the price tested the $1.75 zone. A low was formed at $1.75 and the price is now correcting some losses. There was a move above the $2.00 level. The price surpassed the 23.6% Fib retracement level of the downward move from the $3.155 swing high to the $1.750 low.The price is now trading below $2.750 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.30 level. The first major resistance is near the $2.40 level.The next resistance is $2.450. There is also a connecting bearish trend line forming with resistance at $2.45 on the hourly chart of the XRP/USD pair. It is close to the 50% Fib retracement level of the downward move from the $3.155 swing high to the $1.750 low. A clear move above the $2.450 resistance might send the price toward the $2.50 resistance. Any more gains might send the price toward the $2.650 resistance or even $2.720 in the near term. The next major hurdle for the bulls might be $3.00. Another Decline?If XRP fails to clear the $2.40 resistance zone, it could start another decline. Initial support on the downside is near the $2.10 level. The next major support is near the $2.00 level.If there is a downside break and a close below the $2.00 level, the price might continue to decline toward the $1.850 support. The next major support sits near the $1.750 zone. Technical Indicators

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