XRP has experienced a significant surge in value, crossing above the critical $2.25 resistance level. Currently, the price is trading above $2.30, reflecting a robust increase of over 10%. This upward momentum suggests a potential target of exceeding the $2.50 resistance threshold in the near future.
The recent price movement indicates that XRP has moved past the $2.25 and $2.30 resistance zones, outperforming major cryptocurrencies like Bitcoin and Ethereum . A pivotal shift occurred when XRP broke through a crucial bearish trend line, with the resistance identified at $2.215. Additionally, the price has surpassed the 61.8% Fibonacci retracement level from its prior downward movement, which spanned from a peak of $2.64 to a low of $1.899.
Despite this positive momentum, sellers remain active at the $2.475 level, coinciding with the 76.4% Fibonacci retracement mark of the aforementioned decline. Currently, XRP is positioned above $2.350 and the 100-hour Simple Moving Average, but faces potential resistance near $2.45. The immediate challenge for XRP lies at $2.4750, where a successful breach could pave the way for further gains.
If XRP manages to clear the $2.50 resistance, it may target $2.550. Additional upward momentum could propel the price towards $2.650 or even $2.720 shortly after. However, the overarching challenge for bullish traders remains the $2.880 resistance level.
Conversely, should XRP struggle to surpass the $2.475 barrier, it risks triggering a downturn. Notable support levels include $2.280 and $2.20. A breach below $2.20 could lead to a more substantial decline, potentially targeting $2.080 and subsequently approaching the $2.00 mark.
Technical indicators paint a bullish picture, with the MACD in an upward trajectory and the RSI above the 50 threshold, further supporting the current positive sentiment surrounding XRP ’s price movement.
