Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
XRP price started a fresh increase above the $2.220 resistance zone. The price is now consolidating and might aim for a move above the $2.250 resistance.
- 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 $2.185 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might start another increase if it clears the $2.250 resistance zone.
XRP Price Holds Support
XRP price remained stable above the $2.050 support and started a decent upward move, beating Bitcoin and Ethereum. There was a move above the $0.2150 and $0.20 levels.
The bulls were able to clear the $2.25 resistance zone. A high was formed at $2.2816 and the price is now correcting gains. The price dipped below the $2.25 level and the 50% Fib retracement level of the upward move from the $2.137 swing low to the $2.2816 high.
The price is now trading above $2.20 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2.185 on the hourly chart of the XRP/USD pair. It is near the 61.8% Fib retracement level of the upward move from the $2.137 swing low to the $2.2816 high.
On the upside, the price might face resistance near the $2.2320 level. The first major resistance is near the $2.250 level. The next resistance is $2.2850. A clear move above the $2.2850 resistance might send the price toward the $2.320 resistance. Any more gains might send the price toward the $2.350 resistance or even $2.380 in the near term. The next major hurdle for the bulls might be $2.40.
Downside Break?
If XRP fails to clear the $2.25 resistance zone, it could start another decline. Initial support on the downside is near the $2.20 level. The next major support is near the $2.1850 level.
If there is a downside break and a close below the $2.1850 level, the price might continue to decline toward the $2.150 support. The next major support sits near the $2.120 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $2.20 and $2.1850.
Major Resistance Levels – $2.250 and $2.30.
