XRP Price Faces Crucial Test at $2.250 Resistance

XRP, the cryptocurrency associated with Ripple, has been on a rollercoaster ride, with recent price movements indicating a potential upside break. After a fresh decline from the $2.200 resistance zone, XRP price started a recovery wave from the $1.90 zone, showing positive signs and aiming to clear the $2.250 resistance zone. The price is currently trading below $2.1850 and the 100-hourly Simple Moving Average, with a short-term rising channel forming with resistance at $2.250 on the hourly chart of the XRP/USD pair.

If XRP manages to clear the $2.250 resistance zone, it could continue to move up, with the first major resistance near the $2.350 level. The next resistance levels are $2.420, $2.450, and $2.50, with the next major hurdle for the bulls at $2.650. However, if XRP fails to clear the $2.250 resistance zone, it could start another decline, with initial support on the downside near the $2.150 level and the next major support near the $2.120 level. If there is a downside break and a close below the $2.120 level, the price might continue to decline toward the $2.050 support, with the next major support sitting near the $2.00 zone.

Technical indicators suggest that the MACD for XRP/USD is now losing pace in the bearish zone, while the RSI for XRP/USD is now above the 50 level. Major support levels are $2.120 and $2.050, while major resistance levels are $2.250 and $2.350. The 76.4% Fib retracement level of the downward wave from the $2.365 swing high to the $1.90 low is also near the $2.250 level, adding to the significance of this resistance zone.

In summary, XRP price is currently in a critical juncture, with bulls aiming to push through the $2.250 resistance zone and bears looking to push the price back down to the $2.00 zone. The outcome of this battle will likely determine the short-term direction of XRP price. Investors and traders should keep a close eye on the $2.250 resistance zone and the $2.120 support level, as a break above or below these levels could signal the next major move for XRP price.