XRP Price Declines Below $2.50 Amid Bearish Trend Signs
XRP Price Analysis
- XRP price declined from $2.550, showing bearish signs.
- Currently trading below $2.50 and the 100-hourly SMA.
- A bearish trend line with resistance at $2.580 is forming on the hourly chart.
- The price might rise if it stays above $2.410; otherwise, more losses could occur.
The price fell below key levels, including $2.520 and $2.50, after failing to sustain gains above $2.550. The decline followed a pattern similar to Bitcoin and Ethereum. It remains stable above $2.40 despite a dip below $2.42.
If XRP moves above $2.550, it may reach $2.580, with further potential gains towards $2.650 and possibly $2.720. However, failure to clear the $2.580 resistance could lead to declines.
Support and Resistance Levels:
- Major Support Levels: $2.410, $2.380, $2.320, $2.250, $2.20
- Major Resistance Levels: $2.550, $2.580, $2.650, $2.720
The MACD indicates increasing bearish momentum, while the RSI is below 50, suggesting weakening strength.