XRP Price Surges Above $2.150 but Faces Resistance at $2.20
XRP price is increasing from the $2.050 zone, currently above $2.10 but facing challenges at $2.20.
- XRP began rising above $2.120.
- Trading is above $2.150 and the 100-hourly Simple Moving Average.
- A bullish trend line has formed with support at $2.080 on the hourly chart.
- Closing above $2.20 could indicate further upward movement.
XRP Price Analysis
Supported above $2.00, XRP has increased following Bitcoin and Ethereum trends. It surpassed resistance levels of $2.020 and $2.080, reaching a high of $2.215 before correcting gains. The current trading price remains above the 23.6% Fib retracement level of the upward movement from $1.910 to $2.2150.
Resistance levels are observed at:
- $2.20
- $2.220
- $2.250
A clear breach above $2.250 may lead to targets of $2.320, with potential gains towards $2.350 or $2.420 in the near term. The bulls face a key hurdle at $2.50.
Potential Decline
If XRP fails to break through $2.20, a decline may occur. Initial support is at $2.150, followed by $2.080. A close below $2.080 could lead to further declines towards $2.020 or the 61.8% Fib retracement level, with major support around $1.950.
Technical Indicators
- Hourly MACD shows a decrease in bullish momentum.
- Hourly RSI is above the 50 level.
- Major Support Levels: $2.150 and $2.080.
- Major Resistance Levels: $2.20 and $2.250.