XRP News Today: XRP Price Rebounds 7% From Local Low, Bullish Recovery Awaits

XRP price has shown signs of stabilization above the $2.06 support zone after an extended correction throughout May. The price action has broken a key descending trendline on the 4-hour chart and is holding gains around $2.21, indicating a potential bullish recovery as June 10 approaches. On the weekly chart, XRP is trading around $2.21, having rebounded over 7% from its local low of $2.06. This level coincides with the 38.2% Fibonacci zone, suggesting a critical juncture where bulls must hold ground for further upside.

The XRP price action has remained volatile since failing to clear the $2.54 region earlier in May. However, the recent reclaim of the $2.20 zone, alongside bullish divergence on lower timeframes, signals growing strength. The 4-hour chart shows a clear break above a multi-session descending trendline, which had previously capped every attempt at recovery. XRP price spikes on June 7 and 8 pushed the token as high as $2.22 before meeting resistance. The breakout zone near $2.17–$2.19 now serves as a pivot zone.

Key resistance sits near $2.25–$2.27, followed by a heavier supply zone between $2.35 and $2.45. If bulls manage to sustain this push and flip $2.27 into support, the next upside target could open toward $2.54. Meanwhile, lower support remains at $2.06, a level that aligns with both horizontal demand and an ascending channel base. Momentum indicators on lower timeframes are tilting in favor of bulls. The RSI on the 30-minute chart has bounced from the mid-40s to 62.16, indicating strengthening demand without being overbought. The MACD also supports this bullish thesis, as its histogram remains in green territory and the signal line sits above the baseline.

On the Ichimoku chart, XRP price today is holding above the Kumo cloud and the Tenkan-Sen, while the Chikou Span is now flipping above price — traditionally a bullish crossover setup. One noticeable feature in recent XRP price volatility is the Bollinger Bands compression on the 4-hour timeframe. After a prolonged period of contraction, a volatility expansion is typically expected. The upper band sits near $2.25 while the lower band rests near $2.17, further emphasizing the importance of this narrow consolidation zone. A break above the upper Bollinger Band and subsequent retest could confirm a continuation move toward $2.35. Conversely, failure to hold above $2.17 could trigger another drop back to $2.06.

From a broader perspective, XRP is still trading within a large consolidation range between $2.06 and $2.54. Weekly Fibonacci levels place immediate resistance at the 61.8% retracement near $2.74, while support remains firm at the 0.5 level of $2.27 and the 38.2% zone at $2.06. So far, bulls have respected these retracement levels, hinting at healthy profit-taking and reaccumulation behavior after the March rally. The question of why XRP price is going up today centers around a technical confluence: the break of a short-term trendline, reclaim of the $2.20 mark, and bullish signals across both RSI and MACD. Additionally, social sentiment has shown minor upticks, and large wallet activity indicates accumulation rather than distribution. Whales are seemingly stepping in to absorb selling pressure around $2.06–$2.10, which has historically served as a springboard zone.

With the broader crypto market stabilizing and technical indicators aligning, the XRP price forecast for June 10 leans cautiously bullish, provided price continues to hold above $2.17. Immediate resistance is at $2.25 – $2.27, a key breakout level that, if flipped, opens room to $2.35. The major resistance zone is between $2.35 – $2.54, a heavy supply area with next upside targets. Immediate support is at $2.17 – $2.19, a reclaimed zone that must hold for a bullish bias. The critical support level is at $2.06, where failure signals trend weakness. The weekly 50% Fib level is at $2.27, a midpoint of retracement and pivot for a larger move. The RSI on the 30-minute chart is at 62.16, bullish but not overbought. The MACD histogram is positive, indicating bullish momentum developing. The Bollinger Bands on the 4-hour chart are in a compression zone between $2.17 – $2.25, with a volatility breakout expected. The Ichimoku Cloud on the 30-minute chart shows price above Kumo, indicating a bullish short-term structure.