XRP Price Dips Below $2.60 Amid Bearish Market Signals

XRP price is experiencing difficulty maintaining upward momentum above $2.75 and has recently dipped below $2.60, indicating several bearish signals.

XRP initiated a strong move above $2.50 but is now trading under $2.60 and the 100-hourly Simple Moving Average.
A bearish trend line is forming with resistance at $2.60 on the hourly chart.
The price may increase if it surpasses the $2.60 resistance zone.

XRP Price Recovery Could Soon Fade

After recovering above the $2.00 support zone, XRP faced selling pressure near the $2.75 level, which capped further gains. The recent high was at $2.780, but the price has since pulled back below $2.60, breaking the 23.6% Fib retracement level from the previous swing low of $1.750 to the recent high.

Currently, XRP is trading below $2.60 with resistance at this level and potential resistance at $2.70 and $2.780. A breakthrough could lead to targets around $2.940 and possibly $3.000 or $3.050 in the near term.

Another Decline?

If XRP does not overcome the $2.60 resistance, it may face another decline, with initial support at $2.260 and further down at $2.150. A break below $2.150 could extend losses towards $2.050 and potentially to the $2.00 zone.

Technical Indicators:

MACD shows bearish momentum for XRP/USD.
RSI is below the 50 level.
Major Support Levels: $2.260 and $2.150.
Major Resistance Levels: $2.60 and $2.70.