XRP Price Struggles Below $2.50 Amidst Resistance and Support Levels
XRP is experiencing a recovery wave, having moved from $2.20 but facing resistance at $2.50. It risks declining if it falls below the $2.320 support level.
- Current trading is below $2.420 and the 100-hourly Simple Moving Average.
- A break occurred below a bullish trend line with support at $2.320 on the XRP/USD hourly chart.
- If XRP clears the $2.450 resistance, it may start a new increase.
XRP Price Resistance
XRP formed a base above $2.250, recovering similarly to Bitcoin and Ethereum. It surpassed the $2.40 and $2.420 resistance levels but faced active selling near $2.550.
If a fresh upward move occurs, resistance could be encountered around $2.420, with major resistance near $2.50. Overcoming these levels might lead towards $2.550 and potentially $2.580 or $2.650.
Potential Decline
If XRP fails to surpass the $2.420 resistance, a decline might ensue. Initial support lies at $2.320, with major support near $2.2750. A break below $2.2750 could see further declines towards $2.220 or even down to $2.120.
Technical Indicators:
- Hourly MACD is bearish for XRP/USD.
- Hourly RSI is below 50 for XRP/USD.
- Key Support Levels: $2.320, $2.2750
- Key Resistance Levels: $2.420, $2.50