XRP Surges 15% to $2.089, Consolidates Above $1.950

XRP price has initiated a fresh increase, surpassing the $1.950 resistance level. The cryptocurrency is currently consolidating and needs to settle above $2.00 to achieve further gains. XRP price managed to stay above the $1.780 support zone and started a fresh increase, similar to Bitcoin and Ethereum. The price climbed above the $1.880 and $1.950 resistance levels, forming a high at $2.089 before starting a downside correction. The price dipped below the $2.00 support zone and the 23.6% Fib retracement level of the upward move from the $1.7210 swing low to the $2.0895 high. However, the bulls were active near the $1.920 support, and the price is now trading above $1.950 and the 100-hourly Simple Moving Average. Recently, there was a break above a short-term bearish trend line with resistance at $1.9750 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $2.00 level, with the first major resistance near the $2.050 level and the next resistance at $2.0750. A clear move above the $2.0750 resistance might send the price toward the $2.120 resistance, with any more gains potentially sending the price toward the $2.150 resistance or even $2.20 in the near term. The next major hurdle for the bulls might be $2.320. If XRP fails to clear the $2.00 resistance zone, it could start another decline. Initial support on the downside is near the $1.950 level, with the next major support near the $1.920 level. If there is a downside break and a close below the $1.920 level, the price might continue to decline toward the $1.90 support and the 50% Fib retracement level of the upward move from the $1.7210 swing low to the $2.0895 high. The next major support sits near the $1.850 zone. 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 $1.950 and $1.90, with major resistance levels at $2.00 and $2.0750.