Feb 3, 2025
3 0
XRP Price Declines Over 25% Below $2.00 Support Zone
XRP price has declined significantly, dropping over 25% below the $3.00 zone.
- The price fell below $2.80 and $2.50 levels.
- Current trading is below $2.60 and the 100-hourly Simple Moving Average.
- A bearish trend line is forming with resistance at $2.45 on the hourly chart.
- Clearing the $2.50 resistance could initiate a fresh increase.
XRP Price Movement
The price tested a low of $1.75 before correcting above $2.00. It surpassed the 23.6% Fibonacci retracement level from the recent decline.
Resistance levels include:
- $2.30
- $2.40 (first major resistance)
- $2.450 (close to 50% Fib retracement)
A move above $2.450 could push the price towards $2.50, with potential gains reaching $2.650 or $2.720. The next major hurdle for recovery is $3.00.
Potential Decline
If XRP does not break through the $2.40 resistance, another decline may occur. Key support levels are:
- $2.10
- $2.00
- If broken, potential decline could reach $1.850 and then $1.750.
Technical indicators show a bearish MACD and an RSI below 50.