XRP Price Consolidates Above $2.05 After Recent Increase

XRP price is experiencing an upward trend after starting from the $2.00 zone. Key details include:

XRP has increased above $2.050 and is consolidating over $2.080.
Price is trading above the 100-hourly Simple Moving Average.
A break above a bearish trend line occurred at $2.080 on the XRP/USD hourly chart.
Potential bullish momentum may develop if the price surpasses the $2.120 resistance level.

Current Price Analysis

The price is currently above $2.10, having reached a high of $2.1235. It is now stabilizing above the 23.6% Fibonacci retracement level of the recent upward move. Resistance levels are as follows:

$2.120
$2.150
$2.1850
$2.250
$2.320
$2.350
$2.50 (major hurdle)

Downside Risks

If XRP fails to break through $2.120, it may decline. Key support levels to watch are:

$2.10
$2.080
$2.050
$2.00

Technical indicators show a bullish MACD and an RSI above 50.