XRP Price Consolidates Above $2.20 as Resistance Nears $2.350
XRP price is recovering, trading above the $2.120 mark and consolidating near key resistance levels.
- XRP started recovery above the $2.120 resistance level.
- Current trading position is above $2.20 and the 100-hourly Simple Moving Average.
- A bullish trend line is forming with support at $2.25 on the hourly chart of the XRP/USD pair.
- Further upward movement possible if the price clears the $2.350 resistance zone.
XRP Price Outlook
XRP has remained supported, clearing multiple resistance levels including $2.050 and $2.120. A recent high was noted at $2.348, followed by a consolidation phase. The price is currently above $2.20 and the 100-hourly Simple Moving Average. Resistance points include:
- $2.30
- $2.350 (major resistance)
- $2.450 (next resistance)
- $2.50 and $2.550 (potential targets)
- $2.80 (ultimate hurdle)
Potential Decline
If XRP does not surpass the $2.350 resistance, it may decline, with initial support near $2.250 and further down at $2.120. A close below $2.120 could lead to a drop towards the $2.050 support level, with further support around $2.00.
Technical Indicators
- Hourly MACD indicates bullish momentum for XRP/USD.
- Hourly RSI is above the 50 level.
- Major support levels are $2.250 and $2.120.
- Major resistance levels are $2.350 and $2.450.
