XRP continues the rebound trend since $2.42, with price movements strongly synchronized with Bitcoin and Ethereum. It once broke through the key resistance at $2.50 and $2.55, briefly rising above $2.60, peaking in the $2.65 area.
However, after reaching a peak, there was a technical pullback, with the price retreating from $2.65, falling below the $2.55 level, and testing the 50% Fibonacci retracement level of the rise from $2.4220 to $2.650.
Meanwhile, on the XRP/USD hourly chart, the price has also fallen below the key upward trend line support at $2.55. Nevertheless, the current price remains above the $2.50 threshold and operates above the 100-hour simple moving average.
Resistance area faced by the bulls
Short-term resistance is concentrated around $2.55; the first important resistance is at $2.58; if it can break through $2.60 again, it will open the channel to challenge $2.65; the upward target continues to be $2.72, $2.75, and even aims to test the key upper resistance area around $2.88.
If the bulls are weak, where will XRP go?
If it fails to break above $2.58, XRP may face pressure to retest lower levels. Initial support is at $2.51, which is also the 61.8% Fibonacci retracement level of the rise from $2.4220 to $2.650;
If this level is broken, the price may further test the $2.48 support; if it falls below $2.48, it could accelerate the pullback, targeting the previous lows of $2.45 or even $2.42.
Technical signals indicate caution.
MACD Indicator (1 hour): Positioned in the bullish zone, but momentum is weakening, suggesting a decline in upward momentum;
RSI Indicator (1 hour): Currently pulled back below 50, indicating a risk of a pullback in the short term.
Support levels: $2.510, $2.480, $2.420;
Resistance levels: $2.580, $2.600, $2.650, $2.880.
