XRP news today: XRP Surges 7% to $2.359, Bullish Momentum Intact

XRP price has initiated a fresh upward trend, surpassing the $2.250 mark. The cryptocurrency is currently consolidating around the $2.30 zone, with bulls aiming for higher levels. The price is trading above the 100-hourly Simple Moving Average, indicating a strong bullish momentum. A connecting bullish trend line with support at $2.270 on the hourly chart of the XRP/USD pair suggests that the price might continue to rise unless there is a close below the $2.2450 support.

XRP price has shown a decent upward wave, breaking through the $2.20 and $2.220 resistance levels, similar to Bitcoin and Ethereum. The price traded above the $2.250 and $2.30 levels, reaching a high of $2.359 before starting a downside correction. The price dipped below the $2.320 and $2.30 support levels but remained supported near the $2.250 zone and the 76.4% Fib retracement level of the upward move from the $2.2195 swing low to the $2.359 high.

The price is now trading above $2.250 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line with support at $2.270 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $2.3150 level. The first major resistance is near the $2.350 level. The next resistance is $2.350. A clear move above the $2.350 resistance might send the price toward the $2.420 resistance. Any more gains might send the price toward the $2.450 resistance or even $2.50 in the near term. The next major hurdle for the bulls might be $2.620.

If XRP fails to clear the $2.3150 resistance zone, it could start another decline. Initial support on the downside is near the $2.270 level. The next major support is near the $2.250 level. If there is a downside break and a close below the $2.250 level, the price might continue to decline toward the $2.220 support. The next major support sits near the $2.20 zone.

Technical indicators suggest a bullish momentum for XRP. The MACD for XRP/USD is now gaining pace in the bullish zone, and the RSI for XRP/USD is now above the 50 level. Major support levels are at $2.270 and $2.250, while major resistance levels are at $2.3150 and $2.350.