XRP Price Fresh Surge: Bulls Gear Up for Action Aayush Jindal | usagoldmines.com

XRP price remained stable above the $2.10 zone. The price is moving higher and might aim for a fresh surge above the $2.30 resistance zone.

• XRP price is attempting a fresh increase above the $2.20 resistance zone.
• The price is now trading near $2.25 and the 100-hourly Simple Moving Average.
• There was a break above a connecting bearish trend line with resistance at $2.185 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair might start a decent increase if it clears the $2.30 resistance.

XRP Price Eyes A Comeback

XRP price started a fresh increase from the $2.12 support level, unlike Bitcoin and Ethereum. There was a decent increase above the $2.15 and $2.20 levels.

The price surpassed the 23.6% Fib retracement level of the downward move from the $2.383 swing high to the $2.130 low. There was also a break above a connecting bearish trend line with resistance at $2.185 on the hourly chart of the XRP/USD pair.

However, the bears were active near the $2.25 and $2.26 levels. The price is now trading near $2.25 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.265 level. The first major resistance is near the $2.28 level. It is near the 61.8% Fib retracement level of the downward move from the $2.383 swing high to the $2.130 low.

The next resistance is $2.30. A clear move above the $2.30 resistance might send the price toward the $2.420 resistance. Any more gains might send the price toward the $2.50 resistance or even $2.550 in the near term. The next major hurdle for the bulls might be $2.680.

Another Decline?

If XRP fails to clear the $2.30 resistance zone, it could start another decline. Initial support on the downside is near the $2.188 level. The next major support is near the $2.120 level.

If there is a downside break and a close below the $2.120 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.180 and $2.120.

Major Resistance Levels – $2.28 and $2.30.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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