XRP News Today: XRP Surges 10% to $2.2191, Breaks Key Resistance Levels

XRP price has initiated a steady upward trajectory, surpassing the $2.120 mark. The cryptocurrency is currently consolidating, with potential for further gains above the $2.220 resistance level. This bullish momentum is supported by a break above a bearish trend line with resistance at $2.190 on the hourly chart of the XRP/USD pair.

XRP has formed a base above the $2.080 level, mirroring the upward trends seen in Bitcoin and Ethereum. The price has successfully climbed above key resistance levels at $2.120 and $2.150. The cryptocurrency even surpassed the $2.20 level, reaching a high of $2.2191 before correcting gains. Despite a temporary dip below the $2.20 level, XRP remains above the 23.6% Fib retracement level of the upward move from the $2.070 swing low to the $2.2191 high.

Currently, XRP is trading above $2.180 and the 100-hourly Simple Moving Average. On the upside, the next resistance levels are at $2.220, $2.250, and $2.320. A clear move above the $2.320 resistance could propel the price towards the $2.350 resistance. Further gains might push the price towards the $2.40 or even $2.450 resistance levels in the near term, with the next major hurdle for bulls being $2.50.

However, if XRP fails to clear the $2.220 resistance zone, it could initiate another decline. Initial support on the downside is near the $2.180 level, with the next major support at $2.1450 or the 50% Fib retracement level of the upward move from the $2.070 swing low to the $2.2191 high. A downside break and close below the $2.1450 level could see the price continue to decline towards the $2.120 support, with the next major support sitting near the $2.080 zone.

Technical indicators support the bullish momentum, with the MACD for XRP/USD gaining pace in the bullish zone and the RSI for XRP/USD above the 50 level. Major support levels are at $2.220 and $2.250, while major resistance levels are at $2.1450 and $2.120.