XRP Price Adjusts Slightly – Is a New Rise Forming?

After establishing a strong support level at the $2.250 area, the price of XRP has made an impressive rebound, surpassing several important resistance levels such as $2.350 and $2.400. However, after reaching a high of $2.6560, the price has slightly adjusted down and is currently trading around $2.420. The question now is: is XRP in the process of accumulation in preparation for a new rally? Current Trend The price has regained above $2.50 in the short term, after briefly adjusting to near $2.40. Currently, XRP is trading above $2.40 and is above the 100-hour moving average, indicating that the uptrend is still dominant. On the hourly XRP/USD chart, a clear upward trend line is forming, acting as a support level around the $2.4350 area. Price Increase Scenario If XRP can close above the resistance level of $2.550, then the bullish momentum will be reinforced and may trigger a stronger price surge: The next resistance level is at the $2.600 area. If it can surpass this region, XRP may aim for the previous high of $2.650 and further towards $2.720 or $2.7450. The $2.80 mark could be the next target for the buyers in case the bullish trend is maintained strongly. Price Drop Scenario On the contrary, if the price cannot hold above the resistance level $2.550, then the possibility of a downward adjustment will return: The first support level will be the upward trend line at $2.4350. If it continues to fall deeper, $2.400 will be an important support level. In the case of breaking $2.40, XRP could drop to the $2.350 area or even $2.320 – which are considered the next strong support areas. Technical Indicators The MACD on the hourly chart shows that the bullish momentum is weakening as this indicator starts to decline again. The RSI (Relative Strength Index) on the hourly chart is currently below 50, indicating that short-term selling pressure is increasing. Summary Although XRP is experiencing a slight adjustment from the recent peak of ($2.6560), the overall trend still leans towards the buyers if the price holds above important support levels such as $2.4350 and $2.40. If the buying pressure is maintained well and the price surpasses the resistance level of $2.550, there is a high possibility that XRP will continue its upward journey in the short term. Areas to watch: Support: $2.4350 – $2.400 – $2.350Resistance: $2.4950 – $2.550 – $2.600 – $2.650+