XRP Price Pulls Back From Peak — Is the Bullish Momentum Fading?

XRP's price has retreated from its recent high of $2.320, entering a correction phase that may find support near the $2.120 level. The cryptocurrency is currently trading below both the $2.220 mark and the 100-hourly Simple Moving Average, signaling weakening bullish sentiment. Technical analysis reveals a significant breakdown below a key bullish trend line that previously held support at $2.20 on the XRP/USD hourly chart (Kraken data). The digital asset now faces critical resistance at $2.220 – failure to break through this level could lead to further declines.

After failing to sustain momentum above the $2.320 resistance level, XRP followed Bitcoin and Ethereum into a downward trajectory. The price dropped below crucial support levels at $2.250 and $2.220, with a temporary dip below $2.150. Currently consolidating below the 23.6% Fibonacci retracement level (measured from the $2.327 high to $2.148 low), XRP faces immediate resistance at $2.20.

Key technical levels to watch include:
- Resistance: $2.220 (major), $2.238 (50% Fibonacci level), with potential targets at $2.285 and $2.30-2.320 if bullish momentum returns
- Support: $2.150 (initial), $2.120 (major), with further downside potential to $2.050-$2.020 if the correction deepens

Technical indicators show the MACD losing bearish momentum while the RSI remains below the neutral 50 level, suggesting continued weakness in the short term. Market participants will closely monitor whether XRP can reclaim the $2.220 level to prevent additional downside pressure.