XRP Price Challenges: Can Bulls Win?
XRP recovered and rose above $2.25. The price is trying to break $2.350.
XRP is trying to break the $2,250 barrier.
The price is above $2.25 and the 100 hour moving average.
On the hourly chart of XRP/USD, the positive trend line connects support at $2.285.
The pair may rise if it breaks the $2.350 barrier.
XRP Price Struggles
Like Bitcoin and Ethereum, XRP rose above $2.20. Above $2.25 and $2.30, prices surged.
The price tested $2.35 before the bears appeared. The price held the gains after reaching $2.348. There was a slight decline below the 23.6% Fib retracement level of the $2.130 low to $2.348 high.
The price is above $2.25 and the 100-hour moving average. On the hourly chart of XRP/USD, the positive trend line connects the support at $2.285.
The price may find resistance at $2.32 on the upside. Near $2.35 is the first major resistance. The next hurdle is $2.40. A clean break above $2.40 could push the market above $2.50.
Further gains could push the price towards $2,550 or $2,650. Bulls could face $2,720 after that.
Will there be another drop?
XRP could decline again if it fails to break $2,350. The trend line and $2.28 provide the first downside support. The next major support is $2,240, the 50% Fib retracement level of the upward rally from the $2,130 low to $2,348 high.
If the price breaks and drops below $2.240, it could drop near $2.20. Near $2.050 is the next important support.
Technical indicators
Hourly MACD on XRP/USD is falling in the negative territory.
The hourly RSI on XRP/USD is above 50.
Key support levels: $2,280, $2,240.
Two major resistance levels: $2.350 and $2.40.