XRP Price Faces Resistance at $2.5350 Amid Recovery Wave

XRP is experiencing a recovery wave above $2.40 but faces resistance around $2.5350, which could lead to a decline.

Current price is above $2.40 and the 100-hourly SMA.
A bullish trend line offers support at $2.420 on the hourly chart.
Resistance levels are at $2.480, $2.50, and $2.5350.

Price Movement Insights

XRP recently surpassed the $2.350 and $2.40 levels, similar to movements in Bitcoin and Ethereum. It briefly moved above $2.50 but failed to break the $2.5350 resistance due to bearish activity.

If XRP breaks past $2.5350, it might reach $2.580, with further gains potentially taking it to $2.650 or even $2.720.

Potential Decline

Failure to clear $2.50 could lead to a drop, with initial support at $2.420. Breaking below $2.40 may push prices down to $2.350 or $2.320. Further declines could see it reach $2.250.

Technical Indicators:

MACD shows increasing bearish momentum.
RSI is below 50, indicating potential downward pressure.
Key support: $2.420 and $2.40.
Key resistance: $2.50 and $2.5350.