XRP Faces Resistance at $2.50 and $2.60 Amid Recovery Efforts
XRP is currently consolidating below $2.60, showing positive signs but encountering resistance around $2.50 and $2.60.
- Recovery attempt above $2.420.
- Trading below $2.50 and the 100-hourly SMA.
- A bearish trend line forms with resistance at $2.50 on the XRP/USD hourly chart.
- Potential surge if $2.60 resistance is cleared.
XRP Price Dynamics
After finding support, XRP attempts recovery above $2.30, similar to Bitcoin and Ethereum. The price surpassed $2.350 and $2.40 levels.
Bears are active near $2.550 and $2.60. A bearish trend line with resistance at $2.50 suggests further challenges.
If breaking through $2.60, XRP could test new resistance at $2.660. Further gains might target $2.750 and $2.780, with a key hurdle at $2.820.
Potential Decline
If unable to surpass $2.50, XRP may decline. Support lies at $2.40 and $2.30, with a further drop possible towards $2.2420 and $2.220.
Technical Indicators
- Hourly MACD: Losing momentum in bullish territory.
- Hourly RSI: Below 50 level.
- Major Support: $2.40 and $2.30.
- Major Resistance: $2.50 and $2.60.