XRP Price Analysis

XRP price started a decent upward move from the $2.20 zone. The price is now correcting some gains and might find bids near the $2.220 zone.

• XRP price started a fresh increase above the $2.220 zone.
• The price is now trading above $2.220 and the 100-hourly Simple Moving Average.
• There is a key bullish trend line forming with support at $2.2250 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could start another decline if it fails to stay above the $2.220 zone.

XRP Price Faces Resistance

XRP price started a fresh increase after it settled above the $2.20 level, similar to Bitcoin and Ethereum. The price successfully climbed above the $2.220 resistance level.

The bulls pushed the price above the $2.250 level, but bears are active near the $2.320 level. A high was formed at $2.310, and the price is now correcting some of its gains. The price has moved below the 23.6% Fib retracement level of the upward move from the $2.148 swing low to the $2.310 high.

The price is above $2.220 and the 100-hourly Simple Moving Average, with a key bullish trend line forming at $2.2250 on the hourly chart for the XRP/USD pair.

On the upside, resistance may be met near the $2.2720 level. The first major resistance is at $2.30, followed by $2.320. A clear move above $2.320 could push the price toward $2.350. Further gains might lead to the $2.40 or even $2.420 levels in the near term, with the $2.50 mark as the next major hurdle for the bulls.

More Losses?

If XRP fails to clear the $2.30 resistance zone, it may start to decline again. Initial support is around the $2.2250 level and the trend line. Significant support is near the $2.20 level or the 61.8% Fib retracement level from the $2.148 swing low to the $2.310 high.

If the price breaks below and closes under the $2.20 level, a decline toward the $2.150 support may follow, with the next major support around the $2.120 zone.

Technical Indicators

• Hourly MACD: The MACD for XRP/USD is gaining pace in the bearish zone.
• Hourly RSI: The RSI for XRP/USD is below the 50 level.

Major Support Levels

• $2.2250 and $2.20.

Major Resistance Levels

• $2.30 and $2.320.