XRP News Today: XRP Price Surges 4% Testing $2.320 Resistance

XRP price has shown signs of recovery, with a fresh increase above the $2.25 zone. The price is currently consolidating and may aim for an upward move above the $2.320 resistance. The bulls have pushed the price above the $2.25 level, testing the $2.320 resistance and forming a high at $2.3294. The price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $2.2250 swing low to the $2.3294 high.

The price is now trading above $2.220 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2.270 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $2.320 level. The first major resistance is near the $2.350 level. The next resistance is $2.40. A clear move above the $2.40 resistance might send the price toward the $2.420 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 $2.320 resistance zone, it could start another decline. Initial support on the downside is near the $2.2750 level. The next major support is near the $2.250 level and the 76.4% Fib retracement level of the upward move from the $2.2250 swing low to the $2.3294 high. 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 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 $2.2750 and $2.250, while major resistance levels are at $2.320 and $2.350.

According to the analyst's forecast, the bulls might start another increase if the price clears the $2.320 resistance zone. However, if the price fails to clear this resistance, it could start another decline, with initial support on the downside near the $2.2750 level. The next major support is near the $2.250 level and the 76.4% Fib retracement level of the upward move from the $2.2250 swing low to the $2.3294 high. 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.