XRP experienced a significant price correction after being unable to surpass the $2.780 resistance level. The cryptocurrency is now trading below both $2.50 and the 100-hourly Simple Moving Average, indicating a bearish trend.
A bearish trend line has established resistance at $2.4650, as shown on the hourly chart. Key support levels are situated at $2.2650 and $2.1420, which are crucial for bulls defending the price.