XRP has begun to reverse its recent decline, recouping losses from below $2.20 and climbing above the $2.25 level. This upward movement indicates a potential for further gains, especially as the price has surpassed the 100-hour simple moving average and broken through a bearish trend line resistance at approximately $2.240.
The recent rally originated from a low near $2.066, and since then, XRP has managed to clear key Fibonacci retracement levels, notably the 50% level of the prior downward swing from $2.552 to $2.066. The breakout above this level along with the trend line resistance suggests bullish momentum is developing in the short term.
Should buying pressure sustain, the next significant resistance zone lies around $2.420, where the price confronts the 76.4% Fibonacci retracement level. A decisive move above this threshold could push XRP towards $2.480, followed by potential targets at $2.550 and ultimately approaching $2.650 if momentum persists. The next obstacle beyond this range may be near $2.720, which could serve as a major hurdle for continued bullish expansion.
Conversely, a failure to clear the $2.420 resistance might result in a retracement. Initial support levels are identified near $2.280 and $2.250, with a breach below these levels risking a decline towards $2.200. Should the price drop below $2.250 and close beneath it, further declines toward $2.120 and potentially toward $2.060 could materialize, increasing bearish pressure.
Technical momentum indicators present a cautiously optimistic picture; the MACD shows signs of slowing its bearish trend, and the RSI has moved back above the midpoint, signaling strengthening buying interest. Nonetheless, traders remain attentive to key support and resistance zones as XRP navigates its path toward potential recovery or renewed downside.
