XRP news today: XRP Surges 10% to $2.294, Bullish Trend Intact
1min read XRP price has shown significant strength, initiating a fresh increase above the $2.20 zone. The cryptocurrency is currently consolidating near the $2.280 zone, indicating potential for further upward movement. The price is trading above $2.220 and the 100-hourly Simple Moving Average, with a connecting bullish trend line providing support at $2.240 on the hourly chart of the XRP/USD pair. This trend suggests that XRP might continue its upward trajectory unless there is a close below the $2.20 support level.
Ask Aime: "Should I buy XRP now, or wait for more clues about its potential trajectory?"
XRP price has regained traction, mirroring the upward waves seen in Bitcoin and Ethereum. The price surged above the $2.220 and $2.250 levels, reaching a high of $2.294 before correcting downward. Despite dipping below the $2.280 and $2.250 support levels, the price found support near the $2.220 zone and the 50% Fib retracement level of the upward move from the $2.162 swing low to the $2.294 high. The current trading position above $2.220 and the 100-hourly Simple Moving Average, along with the bullish trend line support at $2.240, suggests potential resistance near the $2.30 level.
If XRP successfully clears the $2.30 resistance zone, it could target the $2.320 level, with further resistance at $2.350. A clear move above $2.350 might propel the price toward the $2.420 resistance, and potentially even $2.450 or $2.50 in the near term. The next major hurdle for bulls is at $2.620. However, if XRP fails to surpass the $2.30 resistance, it could initiate another decline, with initial support near the $2.2450 level and major support at $2.220. A downside break and close below $2.220 could see the price decline toward the $2.20 support, with the next major support at $2.150.
Technical indicators support the bullish outlook for XRP. The MACD for XRP/USD is gaining pace in the bullish zone, while the RSI for XRP/USD is above the 50 level. Major support levels are identified at $2.220 and $2.20, with major resistance levels at $2.30 and $2.350. These indicators suggest that XRP has the potential for a breakout above key levels, provided it maintains its current momentum and support levels.
