XRP Price Consolidates Above $2.250 with Potential for Upside Break
XRP price is consolidating above $2.250 and shows potential for an upward move.
- Price increased past the $2.30 mark.
- Currently trading below $2.350 and the 100-hourly Simple Moving Average.
- A break occurred above a bearish trend line at $2.30 on the hourly chart.
- Clearing the $2.380 resistance may lead to further gains.
XRP Price Outlook
XRP corrected below $2.420 but has shown signs of recovery after hitting a low of $2.2670. Key points include:
- Price surpassed resistance at $2.300.
- Exceeded the 23.6% Fib retracement level from $2.4767 to $2.2670.
- Facing resistance near $2.380, which is close to the 50% Fib retracement level.
- Major resistance levels identified at $2.40 and $2.420.
- A move above $2.420 could target $2.480 and potentially $2.550 or $2.5650.
Potential Decline
If XRP does not surpass the $2.380 resistance, it may decline with:
- Initial support at $2.320.
- Next major support near $2.30.
- A downside break below $2.30 could lead to a decline toward $2.2650 or $2.250.
Technical Indicators
Hourly MACD indicates bullish momentum. The RSI is above 50.