XRP Price Surges Above $2.20, Faces Resistance Near $2.280
XRP price is experiencing a correction after rising above the $2.20 level, with potential support at $2.2150.
- XRP initiated an upward movement above $2.20.
- Current trading is above $2.20 and the 100-hourly Simple Moving Average.
- A bullish trend line supports at $2.180 on the hourly chart.
- A further increase may occur if resistance at $2.280 is cleared.
XRP Price Movement
XRP maintained support above $2.080, surpassing resistance levels of $2.150 and $2.20. The price increased over 5%, exceeding the $2.220 resistance and reaching $2.3350 before correcting.
It is currently above $2.220 and the 100-hourly Simple Moving Average. Key resistance points include:
- $2.280
- $2.320
- $2.3350
A breach above $2.3350 could push the price towards $2.380, with potential further gains towards $2.40 or $2.420. The major hurdle for bulls is at $2.50.
Potential Decline
If XRP does not overcome the $2.280 resistance, it may decline. Initial support levels are:
- $2.220
- $2.2150
- $2.180
A drop below $2.2150 may lead to further declines towards $2.180 and potentially down to $2.120.
Technical Indicators
- MACD for XRP/USD shows reduced bullish momentum.
- RSI is above the 50 level.
Support levels are at $2.2150 and $2.180, while resistance levels are at $2.280 and $2.3350.