XRP price struggles below $2.40 as consolidation continues

19th May 2025 – (New York) XRP’s price has entered a period of correction, retreating below the $2.480 zone as bearish momentum gains traction. After attempting a climb above $2.350, XRP faced significant resistance near the $2.450 level, leading to a decline. The cryptocurrency is now consolidating below $2.40 and its 100-hourly Simple Moving Average, indicating potential for further downside movement.

A recent high was established at $2.4495 before the price dipped, breaking below the $2.40 support and retracing past the 50% Fibonacci level from the $2.299 swing low to the $2.449 high. However, the bulls have shown activity near the $2.350 support level, with a connecting bullish trend line forming at $2.3550 on the hourly chart for the XRP/USD pair. This trend line aligns with the 61.8% Fibonacci retracement level, marking a critical area of support.

While XRP hovers below $2.40, immediate resistance lies at this level, followed by $2.450. A successful breakthrough above $2.450 could pave the way for a rally toward $2.50, with further gains potentially driving the price to $2.60 or as high as $2.680 in the short term. The next significant resistance for a sustained upward trajectory would be $2.80.

On the downside, failure to surpass the $2.450 resistance could prompt another decline. Initial support rests near $2.3550, with a crucial level at $2.320. A decisive break below $2.320 may accelerate losses, pushing the price toward the $2.20 support zone, with $2.120 acting as the next major safety net for bulls.

Technical indicators provide a mixed outlook. The hourly MACD for XRP/USD is gaining momentum in the bearish zone, while the RSI remains below the neutral 50 mark, reflecting weakened buying interest. Traders will closely monitor the $2.350 and $2.320 support levels for any signs of a reversal, as well as the $2.40 and $2.450 resistance levels for potential breakout opportunities.