The price of XRP has seen a few fluctuations from the resistance level of $2.85. The price is consolidating near $2.50 and may aim for further increases above $2.65.

  • The price of XRP is struggling to gain momentum to break through the resistance area of $2.80.

  • The price is currently trading above $2.30 and the 100-hour simple moving average.

  • There is an important bullish trend line forming with support at $2.25 on the hourly chart of the XRP/USD pair (data source from Kraken).

  • This pair could continue to gain momentum if it breaks through the resistance of $2.72.

The price of XRP maintains gains above $2.30

The price of XRP made another attempt to break through the resistance level of $3.00. However, it did not surpass $2.85 and adjusted some gains unlike Bitcoin and Ethereum. There is a move down below $2.65 and $2.50.

A low was formed at $2.276, and the price is currently adjusting losses. There is a move above $2.40 and $2.50. Buyers have pushed the price back above the 50% Fib retracement level of the recent decline from the swing high of $2.848 to the low of $2.276.

The price is currently trading above $2.30 and the 100-hour simple moving average. There is also an important bullish trend line forming with support at $2.25 on the hourly chart of the XRP/USD pair.

On the positive side, the price may encounter resistance near $2.620. The first key resistance is near $2.720. It is close to the 76.4% Fib retracement level of the recent decline from the high of $2.848 to the low of $2.276.

The next important resistance level could be $2.850. A clear move above the resistance of $2.850 could bring the price to the resistance of $2.950. Any further increases could take the price to the resistance of $3.00 or even $3.150 in the near future. The next major barrier for buyers could be $3.20.

Are dips limited?

If XRP does not break through the resistance zone of $2.620, it may start another bearish phase. Initial support at the drop is near $2.50. The next key support is near $2.40.

If there is a bearish breakdown and a close below $2.40, the price may continue to decline towards the support level of $2.30 and the trend line. The next key support level is near $2.050.

Technical Indicator

  • Hourly MACD – The MACD for XRP/USD is currently slowing down in the bullish zone.

  • Hourly Relative Strength Index (RSI) – The RSI for XRP/USD is currently below 50.

  • Key support levels – $2.5000 and $2.4000.

  • Key resistance levels – $2.6200 and $2.7200.