XRP Price: Forms Bearish Trend Making a Clear break Below $2.50 Support Mark

• XRP is facing a downward trajectory declining by over 8% and trading at $2.28.  

• It fell down below its historically considerable support level of $2.50 religiously held by experts as a key indicator of price direction analysis.  

• A bearish trend line has built up with a strong resistance at $2.48880 on the hourly chart.  

• RP’s RSI demonstrates oversold conditions, giving potential signals for short bounce.  

XRP Price Sinks below the psycologicalaly critical support mark  of  $2.50 plunging further down at $2.28 mark. XRP makes is first clear break below the historically considered support mark of $2.50 opening room for speculation regarding further downsides.  

The decline started right after XRP constantly failed to move up its  $2.75 resistance ceiling and reach a new all time high, rejecting an upward price trajectory in the process.  

The rejection of the upward trajectory has sparked a fresh selling tendency in the market after XRP constantly plunged its several support levels at  $2.65 and $2.55. 

XRP analysts hold the 100-hourly Simple Moving Average as and the  $2.50 price point as critical points of consideration when determining market sentiment and price directions.  

With the support level going below $2.50, the XRP price has taken a downward movement showing the signs of a bearish market. However, the downward shift might still sustain in a short term for the digital assets.  

The chart patterns are showing a bearish trend line that forms a resistance at $2.4880 also aligning with the Fibonacci retracement level of 50% of the current downward movement straight from $2.7450 leading to $2.2310. 

Traders looking to match potential price targets the current downward movement means an initial support mark close to $2.250. That said, for new investors, $2.220 stands at a substantially better support zone.  

But the next major breakthrough or breakdown of XRP’s pricing depends on its support level sitting at $2.120. Also, the $2.050 is serving as another support level to watch out for.