XRP Surges, Targets $2.50 as Bulls Face Resistance

Ripple's XRP has shown a positive trend in the past 24 hours, moving into the green zone and posting notable gains. The price is now targeting the $2.50 mark and is bouncing off a crucial support zone. However, analyst Josh of Crypto World has identified significant resistance levels above, which could limit XRP's short-term movement.

The primary support for XRP lies between $2.25 and $2.30. As long as the price remains above this range, there is potential for the price to hold steady or recover. On the upside, XRP faces resistance between $2.58 and $2.73, with an additional resistance point around $2.53 based on recent highs.

In the short term, XRP is expected to remain within a range-bound movement. Although the bullish divergence signal has been invalidated, XRP is still holding above its support zone, indicating a possibility for price stability in the near term. Given the current support and resistance levels, XRP is likely to stay within a sideways price range over the next few days, unless a breakout above resistance or a breakdown below support occurs.

On larger timeframes, such as the daily and 3-day charts, a larger bearish divergence is still present, which could indicate further downside risk. However, the strong support currently in place should prevent a significant drop in the short term, at least for now.

XRP's price often mirrors the trend of Bitcoin. If Bitcoin moves sideways, XRP is likely to follow suit. Therefore, traders should closely monitor Bitcoin's movements as they will likely provide clues about XRP's direction in the near future.