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XRP Price Faces Wall – Recovery Hits Resistance As Market Momentum Fades Again
XRP's price recently rebounded sharply, finding solid support and initiating an upward trend, similar to Bitcoin and Ethereum. The price successfully moved past $2.20 and then $2.320, entering a positive phase. It is currently trading above the $2.50 zone and the 100-hourly Simple Moving Average. However, XRP is encountering strong resistance around the $2.650 level, which coincides with a bearish trend line. Technical analysis indicates potential resistance near $2.60 and the $2.650 level, indicating a significant barrier. Breaking the $2.650 resistance could push the price towards $2.70 initially, followed by $2.720 and possibly $2.80. If the price fails to break the $2.650 resistance, a decline might occur, with initial support at $2.550 then at $2.50. A break below $2.50 could lead to a further drop toward $2.30 and then $2.220. The Hourly MACD is slowing in the bullish zone, while the RSI is hovering near the 50 level. Key support levels are at $2.50 and $2.30, and major resistance levels are at $2.60 and $2.650.
