XRP Surges 10% Breaking $2.00 Resistance
1min read XRP price has initiated a fresh upward trend, surpassing the $1.850 and $1.950 resistance levels. The cryptocurrency is currently consolidating above $1.90 and the 100-hourly Simple Moving Average, with a notable break above a connecting bearish trend line at $1.8650 on the hourly chart of the XRP/USD pair. This movement has positioned XRP for potential further gains, particularly if it can secure a close above the $2.00 resistance zone.
XRP's recent price action mirrors that of other major cryptocurrencies like Bitcoin and Ethereum, with a significant climb above key resistance levels. The price peaked at $2.089 before correcting, dipping below the $2.050 level and the 23.6% Fib retracement level of the upward move from $1.7210 to $2.0896. Despite this correction, XRP remains above $1.950 and the 100-hourly Simple Moving Average, with immediate resistance near the $2.00 level. Further resistance is anticipated at $2.050 and $2.0880, with potential for gains up to $2.120, $2.150, or even $2.20 in the near term. The next major resistance for bulls is at $2.320.
Should XRP fail to surpass the $2.00 resistance zone, it may experience another decline, with initial support at $1.9750 and major support at $1.90. A close below $1.90 could see the price decline further to $1.850 or even the $1.80 zone. Technical indicators show the MACD for XRP/USD losing pace in the bullish zone, while the RSI is above the 50 level, indicating a bullish sentiment. Major support levels are at $1.9750 and $1.90, with major resistance levels at $2.00 and $2.0880.
