XRP News Today: XRP Surges 7% to $2.6050, Bullish Trend Intact

XRP price has shown a steady climb, finding support at $2.420 and initiating a fresh increase. The price has surpassed the $2.50 and $2.550 levels, with bulls pushing it above the $2.580 resistance zone. A high was formed at $2.6050 before a pullback occurred, with the price dipping below $2.5650. Currently, XRP is trading above $2.50 and the 100-hourly Simple Moving Average, with a key bullish trend line forming support at $2.510 on the hourly chart of the XRP/USD pair.

On the upside, the price might face resistance near the $2.60 level, with the first major resistance near the $2.650 level. The next resistance is at $2.720, and a clear move above this level might send the price toward the $2.80 resistance. Any further gains might push the price toward the $2.850 resistance or even $2.880 in the near term. The next major hurdle for the bulls might be at $2.950.

If XRP fails to clear the $2.60 resistance zone, it could start another decline. Initial support on the downside is near the $2.510 level and the trend line. The next major support is near the $2.492 level. If there is a downside break and a close below the $2.4920 level, the price might continue to decline toward the $2.450 support. The next major support sits near the $2.420 zone.

Technical indicators show that the MACD for XRP/USD is now gaining pace in the bullish zone, while the RSI for XRP/USD is now above the 50 level. Major support levels are at $2.510 and $2.4920, while major resistance levels are at $2.60 and $2.650.

According to the analyst's forecast, the bullish sentiment for XRP is growing stronger, with the price showing a steady climb and finding support at key levels. The formation of a key bullish trend line and the price trading above the 100-hourly Simple Moving Average indicate a positive outlook for XRP. However, it is important to note that the price could face resistance at key levels, and a failure to clear these levels could result in a decline. Technical indicators also support the bullish sentiment, with the MACD gaining pace in the bullish zone and the RSI above the 50 level. Overall, the outlook for XRP remains positive, with the price showing a steady climb and finding support at key levels.