#BinanceAlphaAlert XRP current market analysis and ideas of pullback or pull-down
XRP Price Battles Key Hurdles: Can Bulls Prevail?
Key data points
Volume
30.54 M XRP
Previous close
2.3238 USDT
Open
2.3238 USDT
Day's range
2.2825 — 2.3239USDT
XRP price corrected some losses and climbed above the $2.25 zone. The price is now struggling to clear the $2.350 resistance zone.
XRP price is attempting a fresh increase above the $2.250 resistance zone.
The price is now trading above $2.25 and the 100-hourly Simple Moving Average.
There is a connecting bullish trend line forming with support at $2.285 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair might start a decent increase if it clears the $2.350 resistance.
XRP Price Faces Hurdles
XRP price started a fresh increase above the $2.20 support level, like Bitcoin and Ethereum. There was a decent increase above the $2.25 and $2.30 levels.
The price even tested the $2.35 level before the bears appeared. A high was formed at $2.348 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $2.130 swing low to the $2.348 high.
The price is now trading above $2.25 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2.285 on the hourly chart of the XRP/USD pair.
On the upside, the price might face resistance near the $2.32 level. The first major resistance is near the $2.35 level. The next resistance is $2.40. A clear move above the $2.40 resistance might send the price toward the $2.50 resistance.
