XRP ’s price has been fluctuating within a range just under the $2.50 level, currently consolidating above the $2.15 support level. Following a recent decline, XRP is now trading below the $2.40 level and the 100-hourly Simple Moving Average. A key bearish trend line is also forming, indicating resistance at $2.38 on the hourly chart. For a potential bullish trend to emerge, XRP must break through the $2.40 resistance level.
The recent price action was prompted after XRP struggled to move past the $2.50 resistance zone, unlike its counterparts such as Bitcoin and Ethereum , leading to a drop below the $2.40 and $2.30 levels. Nevertheless, bulls have remained persistent, maintaining support above the last low at $2.15. XRP is currently inching higher, trading above $2.20, and is testing the 23.6% Fibonacci retracement level from its recent swing high of $2.866 down to $2.166.
Market analysts suggest that if XRP manages to break through the initial resistance near $2.40, the next significant hurdle will be at $2.50, which corresponds to the 50% Fibonacci retracement level. Success beyond $2.50 could see XRP challenging the resistance around $2.65, with further gains potentially pushing it toward the $2.70 or even $2.85 level. The ultimate target could be as high as $3.00 if bullish momentum continues.
On the downside, if XRP fails to overcome the resistance around $2.38, it may initiate another decline. Initial support lies near the $2.20 level, and if it falls below $2.15, further declines could drive the price toward $2.05. The next major support zone is close to the $2.00 region. Current technical indicators show a slowing bearish momentum with the MACD and the Relative Strength Index positioned below the neutral level, suggesting caution among traders. Major support levels remain at $2.20 and $2.15, while resistance levels are set at $2.38 and $2.50.
