XRP Price Consolidates Near $2.150 Support After Recent Gains
XRP price corrected from $2.30 and is consolidating around the $2.150 support level.
- XRP initiated an increase above $2.150.
- Current trading is above $2.150 and the 100-hourly Simple Moving Average.
- A bearish trend line forms with resistance at $2.20 on the XRP/USD hourly chart.
- The price may rise unless it closes below the $2.150 support.
XRP Price Movements
XRP rose above $2.120 and $2.150, peaking at $2.299 before correcting downward.
A low was established at $2.120, followed by another increase that surpassed the 50% Fib retracement level from $2.299 to $2.120.
Bears are active near $2.2350, which coincides with the 61.8% Fib retracement level. Resistance exists at $2.20 due to the bearish trend line.
Major resistance levels are $2.30 and $2.350. A breakout above $2.30 could lead to further gains towards $2.450 or $2.50; the next significant hurdle is $2.620.
Potential Downside Risks
If XRP cannot breach the $2.20 resistance, it may decline. Initial support is near $2.1620, with major support at $2.150.
A close below $2.150 might push the price down to $2.120, with further support around $2.0650.
Technical Indicators:
- MACD for XRP/USD shows decreasing momentum in the bullish zone.
- RSI is currently below 50.
- Major support levels are $2.1650 and $2.150.
- Major resistance levels are $2.200 and $2.2350.