XRP Price Consolidates Above $2.25 with Resistance at $2.30
XRP price is currently consolidating above the $2.265 zone, with potential for an upward movement past the $2.30 resistance.
- XRP initiated an upward trend above the $2.250 level.
- Price remains above $2.250 and the 100-hourly Simple Moving Average.
- A bullish trend line has formed with support at $2.2750 on the hourly chart.
- Further gains are possible if XRP surpasses the $2.30 resistance level.
XRP Price Consolidation
XRP formed a base and increased from the $2.10 zone, breaking through resistance levels at $2.150 and $2.20.
The price reached a high of $2.3294 before correcting some gains, now trading above $2.250 and the 100-hourly SMA.
The price may face resistance near $2.30, with significant levels at $2.320 and $2.350. A clear break above $2.350 could push prices toward $2.40, and potentially to $2.420 or $2.450 in the short term.
Potential Downside Movement
If XRP does not exceed the $2.30 resistance, it might decline. Key support levels are at $2.2750 and $2.250.
A breach below $2.250 could lead to further declines towards the $2.220 support level, followed by $2.20.
Technical Indicators:
- Hourly MACD shows decreasing momentum in the bullish zone.
- Hourly RSI is below the 50 level.
- Major Support Levels: $2.2750 and $2.250.
- Major Resistance Levels: $2.30 and $2.320.