XRP News Today: XRP Surges 15% to $2.2294, Eyes $2.320 Resistance

XRP price has initiated a fresh upward movement, surpassing the $2.150 mark. Currently, the price is consolidating its gains and is poised to target the $2.220 resistance zone. The cryptocurrency is trading above $2.150 and the 100-hourly Simple Moving Average, with a bullish trend line forming support at $2.1320 on the hourly chart of the XRP/USD pair.

XRP price has found support and has begun a fresh increase above the $2.050 zone, similar to Bitcoin and Ethereum. The price has recovered above the $2.080 and $2.120 resistance levels, even clearing the $2.180 resistance and recently spiking above the $2.220 zone. A high was formed at $2.2294, and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $1.910 swing low to the $2.2294 high.

The price is now trading above $2.180 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.220 level. The first major resistance is near the $2.250 level. The next resistance is $2.320. A clear move above the $2.320 resistance might send the price toward the $2.40 resistance. Any more gains might send the price toward the $2.480 resistance or even $2.50 in the near term. The next major hurdle for the bulls might be $2.550.

If XRP fails to clear the $2.220 resistance zone, it could start another decline. Initial support on the downside is near the $2.150 level. The next major support is near the $2.1320 level and the trend line. If there is a downside break and a close below the $2.1320 level, the price might continue to decline toward the $2.050 support or the 50% Fib retracement level of the upward move from the $1.910 swing low to the $2.2294 high. The next major support sits near the $2.00 zone.

Technical indicators suggest that the MACD for XRP/USD is now gaining pace in the bullish zone, while the RSI for XRP/USD is now above the 50 level. Major support levels are at $2.150 and $2.1320, with major resistance levels at $2.220 and $2.250.