XRP Price Surges Above $2.30, Eyes $2.420 Resistance
XRP price has found support at $2.20 and is experiencing an upward trend, potentially breaking the $2.40 resistance zone.
- XRP price increased above $2.250.
- Currently trading above $2.30 and the 100-hourly Simple Moving Average.
- A short-term rising channel is forming with support at $2.3650.
- A close above $2.420 may lead to further increases.
XRP Price Gains Overview
Key points include:
- Price supported above $2.220 initiated an upward wave.
- Surpassed resistance levels at $2.250 and $2.320.
- Reached a high of $2.4752 before pulling back to $2.330.
- Trading above $2.350 and the 100-hourly SMA; forming a rising channel.
- Resistance identified near $2.40 and $2.420, with further resistance at $2.480.
- A move above $2.450 could target $2.50 and $2.550.
Potential Decline
If XRP does not clear the $2.420 resistance, it may decline.
- Initial support at $2.3650.
- Next major support at $2.320.
- A close below $2.320 might lead to a decline towards $2.250 and $2.220.
Technical Indicators
- Hourly MACD shows bullish momentum.
- Hourly RSI is above 50.
- Major support levels are $2.3650 and $2.320.
- Major resistance levels are $2.420 and $2.480.