XRP price continues to be under pressure, starting a correction from the high of $2.650. With the supports at $2.60 and $2.55 being breached one after another, the bears successfully pushed the price below $2.50, with a minimum retracement to $2.348, currently in a low-level consolidation phase.
Currently, the XRP price is still operating below $2.50 and is below the 100-hour moving average, with a weak technical outlook. In the short term, there is initial resistance at $2.420 above, which is also a key trendline resistance in the hourly chart.
If it can break through here, the price is expected to test $2.450, and further rebound may challenge the key level of $2.50. This position is also the Fibonacci 50% retracement level from the drop of $2.650 to $2.348.
If the price successfully stabilizes above $2.50, a rebound repair may begin in the short term, targeting $2.60, $2.65, or even around $2.68, with the next major target looking at $2.80.
Conversely, if the price fails to break through $2.50 and weakens again, $2.350 remains a key defensive level. Once breached, it may trigger a new round of decline. Support below is sequentially at $2.320, $2.20, and could even test $2.120.
From a technical indicator perspective:
The hourly MACD is still in the bearish zone, but the downward momentum has weakened;
RSI is below 50, indicating bearish dominance but with slight signs of recovery.
Current strategy suggestion: Pay attention to the results of the upward pressure test between $2.420-$2.450. If it breaks through with volume, a recovery rebound may follow; if it continues to weaken and breaches the $2.35 support, further deep decline risks should be guarded against.