The price of XRP has experienced a significant increase above $2.25 and is currently up by over 10%. With growing momentum, XRP is preparing to test the key resistance at $2.50.
XRP Begins a New Growth Phase
After stabilizing above $2.20, XRP initiated a solid upward move, outperforming Bitcoin and Ethereum. The price broke through the resistance zones at $2.25 and $2.30.
On the hourly chart of the XRP/USD pair, a breakout above the key bearish trend line with resistance at $2.215 was observed. The price reached the 61.8% Fibonacci retracement level of the previous downward wave from $2.64 to $1.899.
However, bears remain active below $2.475, which corresponds to the 76.4% Fibonacci retracement of the previous movement.
Key Resistance Levels
XRP is now trading above $2.35 and the 100-hour simple moving average. Key resistance levels on the upside include:
$2.45 – the first resistance level.
$2.475 – a significant barrier.
$2.50 – a critical level for further growth.
If XRP successfully breaks above $2.50, the price could gradually rise to:
$2.55 – the first target for further growth.
$2.65 – a higher resistance level.
$2.72 or even $2.88 – potential long-term targets.
Possible Pullback
If XRP fails to clear the $2.475 resistance, a correction may follow. Key support levels include:
$2.28 – initial support.
$2.20 – critical support.
A drop below $2.20 could weaken the price further toward $2.08 or even $2.00.
Technical Indicators
Hourly MACD: Shows accelerating bullish momentum.
Hourly RSI: The RSI for XRP/USD is above 50, supporting a bullish trend.
Summary
XRP continues to rise, breaking key resistance levels and signaling the potential for further growth beyond $2.50. If the bulls maintain momentum, the price could reach $2.88 in the near future. Conversely, a failure to break higher may lead to a short-term correction toward $2.20, presenting a buying opportunity.
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