XRP News Today: XRP Price Recovers 2.320 Resistance After 2.220 Support

XRP price has recently experienced a decline below the $2.320 zone, but it is now showing signs of recovery. The price is currently trading below $2.320 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $2.2920 on the hourly chart of the XRP/USD pair. This break suggests that the price might aim for a move above the $2.350 resistance.

XRP price found support at $2.220 and recently started a recovery wave, unlike Bitcoin and Ethereum. There was a move above the $2.2650 and $2.280 resistance levels. Additionally, there was a move above the 50% Fib retracement level of the downward wave from the $2.3540 swing high to the $2.2279 low. However, the bears were active near the $2.30 level, and the price is now trading below $2.320 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.3250 level, which is near the 76.4% Fib retracement level of the downward wave from the $2.3540 swing high to the $2.2279 low.

The first major resistance is near the $2.3350 level. The next resistance is $2.350. A clear move above the $2.350 resistance might send the price toward the $2.40 resistance. Any more gains might send the price toward the $2.420 resistance or even $2.450 in the near term. The next major hurdle for the bulls might be $2.50. If XRP fails to clear the $2.320 resistance zone, it could start another decline. Initial support on the downside is near the $2.280 level. The next major support is near the $2.260 level. If there is a downside break and a close below the $2.260 level, the price might continue to decline toward the $2.2320 support. The next major support sits near the $2.20 zone.

Technical indicators suggest that 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 $2.280 and $2.260, while major resistance levels are at $2.320 and $2.340. These indicators suggest that XRP is showing signs of strength and might continue its recovery if it can clear the $2.320 resistance zone.