The bearish momentum of XRP is getting deeper — Will the support zone soon be broken?

After hitting the $2.350 level, XRP has continued to fall. Currently, this currency is under strong selling pressure and is at risk of breaking the important support level of $2.30. XRP Price Movement In recent hours, the price of XRP continues to weaken as it fails to hold above the level of $2.350 as well as the 100-hour SMA (. On the XRP/USD hourly chart, a new bearish trend line has emerged, creating a resistance level around $2.305. After Bitcoin and Ethereum showed signs of recovery, XRP also recorded a bounce from the support level $2.265. This coin has surpassed the small resistance levels at $2.30 and $2.32, while moving above the 23.6% Fibonacci retracement level of the decline from the peak $2.4767 to the bottom $2.2670. However, the bears are still in control as the price fails to break above the $2.350 level. The first major resistance currently lies near the $2.340 zone, followed by the $2.3720 zone — the 50% level of the aforementioned correction. Bullish Scenario If the price can clearly break the $2.3720 threshold, the upward momentum may be activated again. In that case, XRP is likely to move towards the $2.40 area, further to $2.420 or even $2.450. The $2.50 mark will be the next target that the buyers aim for if the buying pressure is strong enough. Bearish Scenario On the contrary, if the price cannot break through the resistance level of $2.3720, the bearish trend may return. The first support is near the $2.280 region, followed by $2.265 — an area that was previously the bottom of a recovery. If a clear bearish breakout occurs below $2.265, selling pressure may push the price down to the support level of $2.235. In a more negative scenario, XRP could fall to the next strong support area at $2.20. Technical Indicators Hourly MACD: Moving in a negative direction, indicating that the bearish momentum still prevails. Hourly RSI: Currently below 50, signaling the strength of the bearish trend. Important Support Levels: $2.2650$2.2350$2.20 Important Resistance Levels: $2.305 )downtrend($2.340$2.3720$2.420$2.450$2.50

Conclusion: XRP price is under significant pressure from the sellers as it fails to break through key resistance levels. If the price breaks the support level of $2.265, the bearish trend may continue. Conversely, a strong bounce through the $2.3720 range could open up significant recovery opportunities for XRP in the short term.