XRP has experienced a notable upswing, trading above the $2.50 level despite some challenges faced by Bitcoin . This price movement reflects a strong bullish sentiment, as XRP aims for further gains, particularly eyeing the resistance at $2.550.
The cryptocurrency has surged by over 10%, demonstrating resilience and performance that outstrips both Bitcoin and Ethereum . Following a climb past the $2.50 threshold, XRP reached a peak of approximately $2.5979. Presently, it is consolidating these gains while undergoing minor fluctuations around the $2.55 level. As the price has dipped slightly below this area, it remains above the key $2.450 level and the 100-hourly Simple Moving Average, which is a positive sign for continued bullish momentum.
Looking ahead, XRP faces immediate resistance near the $2.550 level, with substantial hurdles at $2.60 and $2.65. A decisive move beyond $2.65 could propel the price towards the next target of $2.735. Should the uptrend continue, XRP may even reach levels around $2.80 or potentially peak at $2.8250. The longer-term bullish target for this rally lies near the significant resistance at $2.950.
Conversely, should XRP struggle to breach the $2.550 resistance, a downward correction could ensue. The initial support level on this downside could be around $2.4850, followed by a more critical support near $2.420, which coincides with the 50% Fibonacci retracement level from the recent upward movement. A break below $2.420 might trigger further declines, potentially testing support levels at $2.350 and subsequently around $2.320.
Current technical indicators suggest that while momentum is slowing, XRP ’s Relative Strength Index remains above the neutral zone, signifying ongoing bullish potential.
