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.
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.
