XRP Price Attempts Recovery Amid Struggle to Clear $2.420 Resistance
XRP price is attempting a recovery from $2.320, currently struggling to clear the $2.420 resistance level.
- Trading above $2.350 and the 100-hourly Simple Moving Average.
- A contracting triangle with resistance at $2.420 is forming on the hourly XRP/USD chart (source: Kraken).
- The price surpassed resistance levels at $2.3750 and $2.380 but faces challenges near $2.420.
If XRP clears the $2.420 resistance:
- Potential rise toward $2.480 and testing of $2.550.
- Further gains might target resistances at $2.580, $2.650, and $2.720.
If XRP fails to clear $2.420:
- Possible decline toward support at $2.380 and $2.350.
- A break below $2.350 could lead to further declines to $2.320 or $2.250.
Technical Indicators
- Hourly MACD: Gaining pace in the bullish zone.
- Hourly RSI: Above 50 level, indicating strength.
- Major Support Levels: $2.350, $2.320
- Major Resistance Levels: $2.420, $2.50
