XRP Price Faces Resistance Below $2.50 After Recent Decline

XRP Price Analysis

XRP price declined after failing to surpass $2.780.
Currently trading below $2.50 and the 100-hourly Simple Moving Average.
Resistance at $2.4650 due to a bearish trend line on the hourly chart.
A breakout above $2.50 may lead to potential gains.

Current Price Movement

XRP experienced a recovery attempt above the $2.250 support, reaching above $2.450 and $2.500. However, it faced resistance near $2.80, leading to a drop below $2.50.

The price is now testing key support levels:

Initial support at $2.2650.
Next major support near $2.1420, coinciding with the 61.8% Fibonacci retracement level.

XRP Price Analysis

Outlook

If XRP does not break the $2.50 resistance, it may decline further.

Major resistance levels are $2.50 and $2.60.
Support levels are $2.260 and $2.1420.
Potential declines could reach the $2.050 and $2.00 zones.

Technical indicators show a bearish trend with MACD gaining momentum in the bearish zone and RSI below 50.