XRP Price Declines Below $2.480, Faces Support at $2.350

XRP price is undergoing a correction below $2.480, with potential losses extending below the $2.320 support zone.

XRP declined below $2.520 and is currently trading below $2.480.
Price is below the 100-hourly Simple Moving Average.
A bullish trend line is forming with support at $2.3550 on the hourly chart.
Price may increase if it remains above the $2.350 support.

XRP Price Update

XRP failed to sustain an increase above $2.350. A high of $2.4495 was recorded before a decline occurred.

The price dropped below $2.40 and the 50% Fib retracement level from $2.299 to $2.449. Support is now active near $2.350.

The bullish trend line aligns with the 61.8% Fib retracement level from the earlier upward move.

The price faces resistance near $2.40, with a significant level at $2.450. If surpassed, the next resistance levels are $2.50, $2.60, and potentially up to $2.80.

Potential Further Declines

If XRP does not break through the $2.450 resistance, it could decline further. Key support levels are:

$2.3550
$2.320

A close below $2.320 may lead to further declines toward $2.20 and eventually $2.120.

Technical Indicators

Hourly MACD is bearish.
Hourly RSI is below 50.
Major support levels are $2.350 and $2.320.
Major resistance levels are $2.40 and $2.450.