XRP has shown resilience by maintaining its position above the $2.20 support level, differentiating itself from other cryptocurrencies like Bitcoin and Ethereum . After briefly hitting a low of $2.17, XRP ’s price has remained fluctuating below the $2.40 level, reflecting a period of consolidation. A minor uptick saw the price rise above the $2.25 and $2.30 levels, also piercing the 23.6% Fibonacci retracement level of the decline from the $2.720 high to the $2.171 low. However, it currently sits below both the $2.40 level and the 100-hour simple moving average.
Looking ahead, XRP faces immediate resistance around the $2.35 range, where a bearish trend line also establishes its presence. The first significant resistance emerges at $2.40, followed by $2.45, which coincides with the 50% Fibonacci retracement level observed during the previous downward movement. A decisive break above the $2.45 resistance could propel XRP towards the $2.50 level, with further potential to reach $2.550 or even $2.620 in the near future. The bulls will likely target $2.80 as the next significant milestone.
However, if XRP is unable to breach the $2.40 resistance zone, it could risk another downturn. The initial support zone lies around $2.25, with a critical level at $2.20. Should the price fall below this threshold and close below $2.20, XRP may continue its decline toward the $2.050 support level, with the next major level of support positioned around $2.00.
In terms of technical indicators, the hourly MACD is showing signs of weakening in the bearish zone, while the RSI is currently below 50, signaling a lack of upward momentum. As such, XRP ’s price action remains closely tied to its ability to navigate these key support and resistance levels in the trading sessions ahead.
