NewsBTC
18 February 2025
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XRP Price Consolidates Gains Above $2.60, Faces Resistance at $2.720

XRP price is consolidating above the $2.60 level, requiring a breakout past the $2.720 resistance for further gains.

  • XRP initiated an upward movement above $2.60.
  • Currently trading below $2.70 and the 100-hourly SMA.
  • Break below bullish trend line support at $2.6880 noted on the hourly XRP/USD chart.
  • A new increase may occur if resistance at $2.720 is surpassed.

XRP Price Trim Gains

XRP remains above the $2.50 support, contrasting with declines in Bitcoin and Ethereum. The price peaked at $2.8322 before correcting.

The price fell below the 23.6% Fib retracement level of the previous upward wave, indicating potential resistance around $2.700 and major resistance at $2.720.

XRP Price

Further gains could target $2.920 or $3.00, with $3.050 as a significant hurdle.

More Losses?

Failure to breach $2.720 may lead to declines, with initial support near $2.60 and key support at $2.5820.

A drop below $2.5820 could extend losses toward $2.550 and ultimately the $2.50 zone.

Technical Indicators:

  • Hourly MACD indicates bearish momentum.
  • RSI for XRP/USD is below 50.
  • Major Support Levels: $2.60, $2.5820.
  • Major Resistance Levels: $2.720, $2.800.