XRP Price Holds Above Key $2.220 Support Level
XRP Price Update
- XRP price increased above $2.30 but is currently correcting gains.
- Trading below $2.2650 and the 100-hourly Simple Moving Average.
- Key support established at $2.220, forming a contracting triangle on the hourly chart.
- A close below $2.220 may trigger further declines.
Price Movement Details
- High of $2.359 reached before correction.
- Price tested support at $2.220 after dropping below $2.30 and $2.280.
- Consolidation occurring below the 23.6% Fib retracement level from the recent high.
- Resistance observed near $2.250, with major resistance at $2.280 and $2.30.
Future Projections
- Clearance above $2.30 could lead to targets at $2.320 or $2.350.
- Major resistance for bulls noted at $2.420.
Support Levels
- Initial support at $2.220; next major support at $2.20.
- Break below $2.20 may see price decline toward $2.160 and then $2.120.
Technical Indicators
- Hourly MACD indicates bearish momentum.
- RSI currently below 50.