#XRP price started a fresh increase above $2.550. The price is now facing hurdles above $2.650 and at risk of another decline in the near term.

XRP price failed to continue higher above $2.70 and corrected some gains.

The price is now trading below $2.60 and the 100-hourly Simple Moving Average.

There is a bearish trend line forming with resistance at $2.65 on the hourly chart of the XRP/USD pair (data source from Kraken).

The pair could start a fresh increase if it stays above $2.5120.

XRP Price Holds Support

XRP price formed a short-term top near $2.69 and started a downside correction, like Bitcoin and Ethereum. The price dipped below the $2.65 and $2.62 levels.

There was a move below the 23.6% Fib retracement level of the upward wave from the $2.327 swing low to the $2.697 high. The price even spiked below $2.55 but remained stable above $2.50. Besides, there is a bearish trend line forming with resistance at $2.65 on the hourly chart of the XRP/USD pair.

#MarketPullback #FranceBTCReserveBill #PowellWatch #xrp $XRP