XRP has recently seen a notable surge, surpassing the $2.40 resistance level and currently remains in a phase of consolidation. This upward momentum could lead to an attempt to break past the $2.450 barrier in the near future.
The price of XRP initiated an upward trajectory when it crossed over the $2.25 level, outpacing both Bitcoin and Ethereum . It successfully breached the crucial resistance levels at $2.32 and $2.40, peaking at $2.480 before experiencing a pullback. Following this uptick, XRP has witnessed a slight decline, retracing below the $2.40 level and testing the 23.6% Fibonacci retracement level from a previous low of $1.899 to the $2.48 high. Presently, XRP is trading above the $2.350 level, along with the 100-hour Simple Moving Average, indicating a strong short-term performance.
Resistance levels in the immediate future are positioned at $2.450 and further up at $2.50. A successful move past the $2.50 level could propel XRP towards $2.550, and any additional gains might even drive the price towards $2.650 or $2.720. The bulls will eye the crucial resistance point at $2.880 as their next major target.
Conversely, if XRP struggles to breach the $2.45 resistance, it may face further declines. Key support levels to monitor on the downside include $2.30 and $2.260. A significant drop below $2.260 could lead to additional declines toward the $2.180 support level, which corresponds to a 50% Fibonacci retracement level from the recent upward movement.
Technical indicators suggest a cautiously optimistic outlook for XRP , with the MACD showing increasing strength in bullish territory and the RSI remaining above the neutral 50 mark, further supporting the potential for upward movement.
