XRP News Today: XRP Surges 3% Breaking Key Resistance at $2.10

XRP price has initiated a fresh upward trend, surpassing the $2.050 zone and currently trading above $2.10. This movement has positioned the cryptocurrency above the 100-hourly Simple Moving Average, indicating a bullish sentiment. The price has also broken through a key bearish trend line with resistance at $2.00 on the hourly chart of the XRP/USD pair. This breakout suggests that XRP could potentially continue its upward trajectory if it manages to close above the $2.180 resistance zone.

XRP has found support above the $1.920 zone and has recovered above the $2.00 and $2.020 resistance levels. The cryptocurrency has also cleared the $2.10 resistance and $2.150 hurdle, although bears have been active below the $2.20 mark. A high was formed at $2.170, and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $1.910 swing low to the $2.170 high. The price is currently trading above $2.10 and the 100-hourly Simple Moving Average, with potential resistance near the $2.1650 level. The first major resistance is near the $2.180 level, followed by $2.20. A clear move above the $2.20 resistance might send the price toward the $2.250 resistance, with further gains potentially reaching $2.300 or even $2.320 in the near term. The next major hurdle for the bulls might be $2.50.

However, if XRP fails to clear the $2.180 resistance zone, it could start another decline. Initial support on the downside is near the $2.0880 level, with the next major support near the $2.050 level or the 50% Fib retracement level of the upward move from the $1.910 swing low to the $2.170 high. If there is a downside break and a close below the $2.050 level, the price might continue to decline toward the $2.00 support. The next major support sits near the $1.920 zone.

Technical indicators suggest that the MACD for XRP/USD is now losing pace in the bullish zone, while the RSI for XRP/USD is now above the 50 level. Major support levels are at $2.050 and $2.00, while major resistance levels are at $2.180 and $2.20. The current price action and technical indicators suggest that XRP has the potential for further gains, but it will need to overcome key resistance levels to continue its upward trend. If it fails to do so, it could face another decline.