NewsBTC
Feb 24, 2025
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XRP Price Struggles Below $2.60, Faces Risk of Further Decline

2 min

XRP price is currently facing challenges in surpassing the $2.60 and $2.70 resistance levels, with risks of further declines below the $2.50 support zone.

  • XRP price declined below $2.620.
  • Trading below $2.60 and the 100-hourly Simple Moving Average.
  • Bearish trend line resistance forming at $2.5650 on the hourly chart.
  • A potential upward movement could occur if it clears the $2.60 resistance.

XRP Price Movement

The price attempted to rise above $2.750 but faced selling pressure, resulting in a decline below the $2.650 support level. It tested the $2.50 support, forming a low at $2.508 before attempting recovery.

Current trading is below $2.60. Resistance is near $2.5650 with bearish trend line implications. Key resistance levels are:

  • $2.60
  • $2.620 (50% Fib retracement from $2.7450 to $2.508)
  • Potential gains could target $2.650, $2.720, or $2.750.
  • Major hurdle at $2.850 for bulls.

Downside Risks

If XRP does not clear the $2.60 resistance, it may decline further. Support levels to watch are:

  • $2.520
  • $2.50
  • Further declines could lead to $2.40 and then $2.320.

Technical indicators show:

  • Hourly MACD indicates a bearish momentum.
  • RSI is below 50.