XRP's upward momentum stalled decisively at the psychologically significant $2.50 resistance level,what is usdt triggering a pullback that has traders closely monitoring key technical levels.
The digital asset encountered strong selling pressure after multiple unsuccessful attempts to breach the $2.50 resistance barrier.
Current trading activity remains below both the $2.42 pivot point and the 100-hour moving average, indicating potential weakness.
Technical charts reveal a breakdown below an ascending trendline that previously provided support around $2.440 on hourly timeframes.
Market participants are watching the $2.35 support level closely, as a decisive break could signal further downside potential.
Technical Breakdown and Key Levels
Following its rejection at higher levels, XRP experienced a notable correction that brought prices below several important technical markers. The cryptocurrency found temporary footing near $2.329 before initiating a modest recovery attempt.
This rebound has so far managed to reclaim territory above the 23.6% Fibonacci retracement level of the recent downward move. However, overhead resistance remains formidable, with the $2.40 area now serving as a critical battleground between buyers and sellers.
The 50% retracement level of the recent decline coincides with this resistance zone, creating a confluence of technical factors that could influence price action in coming sessions. Traders are particularly focused on whether XRP can overcome the $2.42-$2.45 supply zone that previously acted as support.
Potential Scenarios Ahead
Should buying pressure intensify, a decisive break above $2.45 could open the door for a retest of the $2.50 ceiling. Sustained momentum beyond this point might target subsequent resistance levels near $2.62 and $2.665, with $2.80 emerging as a longer-term objective for bullish traders.
Conversely, failure to reclaim higher ground could see XRP retest immediate support around $2.35, followed by more significant levels at $2.32 and $2.20. A breakdown below these markers would suggest broader market weakness and potentially lead to extended consolidation.
Technical Indicators Overview
The hourly MACD shows bearish momentum slowing, though still favoring sellers in the near term. Meanwhile, the RSI remains below the neutral 50 level, indicating that downward pressure persists despite the recent bounce.
Key levels to watch include support at $2.35 and $2.32, with resistance emerging at $2.42 and $2.45. These price zones will likely determine whether XRP can regain its upward trajectory or faces additional corrective action in the short term.