XRP Price Recovers Above $2.40 but Faces Resistance at $2.50

XRP price shows a recovery trend above the $2.40 mark but is correcting gains from a high of $2.50.

XRP started a recovery wave above the $2.40 resistance.
Price is trading above $2.40 and the 100-hourly Simple Moving Average.
A break occurred below a bullish trend line with support at $2.430 on the hourly chart.
Potential extension of losses exists if the price breaks below the $2.40 support.

XRP Price Overview

XRP remained supported, starting a recovery above the $2.320 level, clearing resistances at $2.40 and $2.420. However, it faced downward pressure after testing $2.50 without further upside.

The key levels to monitor include:

Resistance near $2.450 and $2.480
Major resistance at $2.50, aligning with the 61.8% Fib retracement level
Clear movement above $2.50 may push prices towards $2.550 and $2.650
Next major hurdle for bulls at $2.80

Potential Decline

If XRP does not surpass the $2.480 resistance, a decline may begin, with initial support at $2.40 and subsequent support at $2.350. A close below $2.350 could lead to further declines toward $2.320, with significant support near $2.250.

Technical Indicators:

MACD for XRP/USD losing momentum in the bullish zone
RSI below the 50 level
Major support levels: $2.40, $2.350
Major resistance levels: $2.480, $2.50