XRP Price Analysis

XRP price started a fresh increase from the $2.050 zone and is trading above $2.10, potentially facing resistance at $2.20.

• Price Movement: XRP price has increased above the $2.120 mark, currently trading over $2.150 and the 100-hourly Simple Moving Average (SMA).
• Support Level: A bullish trend line is forming with key support at $2.080 on the hourly chart for the XRP/USD pair (source: Kraken).
• Potential Growth: Continued upward movement is possible if XRP closes above the $2.20 resistance zone.

XRP Price Faces Hurdles

XRP remained supported above the $2.00 range, paralleling trends seen in Bitcoin and Ethereum. The price recovered through the $2.020 and $2.080 resistance levels.

• The pair exceeded the $2.150 resistance, momentarily surpassing the $2.20 level, but faced selling pressure from bears.
• A peak was reached at $2.215, followed by a correction. Despite retreating below $2.00, the price stays above the 23.6% Fibonacci retracement level (from the $1.910 low to the $2.2150 high).

Price is now above $2.150, supported by the 100-hourly SMA, alongside the bullish trend line at $2.080.

Resistance Levels

On the upside, XRP may encounter resistance near $2.20, with major hurdles at:
– $2.220 (first major)
– $2.250 (next level)

A clear breakthrough above $2.250 could propel the price toward the $2.320 level. Further gains could even lead to $2.350 or $2.420, with $2.50 being a critical hurdle for bulls.

Another Drop?

Should XRP fail to surpass the $2.20 resistance, a decline is possible.

• Initial support levels are around $2.150.
• Significant support is near $2.080.
• If it drops below $2.080, it may decline toward $2.020 or even the 61.8% Fibonacci retracement level, with the next major support at approximately $1.950.

Technical Indicators

• Hourly MACD: The MACD for XRP/USD is slowing down in the bullish territory.
• Hourly RSI: The RSI for XRP/USD is currently above the 50 mark.

Major Support and Resistance Levels

• Support: $2.150, $2.080
• Resistance: $2.20, $2.250