NewsBTC
4 March 2025
0 0

XRP Price Declines Below $2.50, Faces Support at $2.20

XRP is experiencing a decline, trading below key support levels after failing to break the $3.00 resistance.

  • XRP has declined from the $3.00 zone.
  • Current trading is below $2.50 and the 100-hourly Simple Moving Average.
  • A break occurred below a bullish trend line at $2.40 on the hourly chart.
  • Further declines may follow if the price breaks below the $2.20 support.

XRP Price Movement

XRP rallied above $2.50 and $2.80 but faced selling pressure, similar to trends seen in Bitcoin and Ethereum. The price failed to surpass $3.00 and started a fresh decline below key Fibonacci retracement levels.

Currently, XRP is attempting to find support above the 76.4% Fibonacci level. Resistance is expected near $2.35 and $2.40, with further resistance at $2.4750 and potentially $2.620 if upward movement occurs.

XRP Price

Potential for Further Losses

If XRP does not clear the $2.40 resistance, it may decline further. Key support levels are at $2.20 and $2.120. A close below $2.120 could lead to further declines toward $2.050 and then $2.00.

Technical Indicators:

  • Hourly MACD indicates increasing bearish momentum.
  • RSI is below the 50 level.
  • Major Support Levels: $2.20, $2.120.
  • Major Resistance Levels: $2.40, $2.4750.