XRP price today is trading near $2.50, recovering from a sharp pullback after failing to sustain above the $2.60 zone. This price rejection comes after a notable XRP price spike toward $2.65 on May 12, which marked the upper boundary of a key resistance range. Over the weekend, XRP broke out of a descending wedge pattern, rallying past major resistance levels at $2.35 and $2.45, triggering short-term momentum.
Looking at the XRP price update, the 4-hour chart shows a healthy structure of higher lows forming after a successful retest of previous resistance-turned-support. However, traders remain cautious as the asset shows signs of intraday exhaustion after a near 25% rally from the May 8 low.
XRP Price Action Faces Resistance: What Do the Charts Say?
On the daily timeframe, XRP price action broke above a multi-month descending trendline, clearing key resistance around $2.25. The move was accompanied by a strong RSI surge, which has now cooled back to the neutral zone. The latest candle shows a long upper wick, indicating profit-taking pressure near the 0.618 Fibonacci ret…
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