XRP News Today: XRP Surges 7% to $2.215, Faces Resistance at $2.220

XRP price initiated a fresh increase from the $2.050 zone, surpassing the $2.120 and $2.150 resistance levels. The price is currently trading above $2.150 and the 100-hourly Simple Moving Average, with a bullish trend line forming support at $2.080 on the hourly chart of the XRP/USD pair. However, the price faced resistance above the $2.20 zone, forming a high at $2.215 before correcting some gains.

The price is now above the 23.6% Fib retracement level of the upward move from the $1.910 swing low to the $2.2150 high. On the upside, the price might face resistance near the $2.20 level, with the first major resistance near the $2.220 level. The next resistance is at $2.250, and a clear move above this level might send the price toward the $2.320 resistance. Further gains could push the price toward the $2.350 resistance or even $2.420 in the near term, with the next major hurdle for the bulls at $2.50.

If XRP fails to clear the $2.20 resistance zone, it could start another decline. Initial support on the downside is near the $2.150 level, with the next major support near the $2.080 level. A downside break and close below the $2.080 level could see the price continue to decline toward the $2.020 support or the 61.8% Fib retracement level of the upward move from the $1.910 swing low to the $2.2150 high. The next major support sits near the $1.950 zone.

Technical indicators show 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 $2.150 and $2.080, with major resistance levels at $2.20 and $2.250. The price could continue to move up if it closes above the $2.20 resistance zone, but if it fails to do so, it could start another decline.