XRP Price Declines Below $2.50, Support Found at $2.350

XRP price is undergoing a correction below $2.50, currently consolidating near the support level of $2.350.

XRP has declined below the $2.550 zone.
Current trading price is under $2.50 and the 100-hourly Simple Moving Average.
A bearish trend line forms resistance at $2.420 on the hourly chart.
Potential for upward movement exists if it maintains above the $2.350 support.

Price Movement Overview

The price started declining from $2.650, dropping through the $2.60 and $2.55 levels. A low was established at $2.348, with consolidation occurring below the 23.6% Fibonacci retracement level.

Resistance levels include:

$2.450
$2.50
50% Fib retracement from $2.650 to $2.348

An upward breach of $2.50 may lead to testing $2.60 and potentially $2.680; major hurdles could reach up to $2.80.

Potential Declines

If XRP does not overcome the $2.50 resistance, further declines are possible. Key support levels are:

$2.350
$2.320
Below $2.320 may lead to a drop towards $2.20 and down to $2.120.

Technical indicators show the MACD losing momentum in the bearish zone and the RSI below 50.