XRP price remained stable above the $2.10 zone. The price is moving higher and may look to rally back above the $2.30 resistance zone.
- XRP price is trying to rise again above the $2.20 resistance zone.
- The price is currently trading near $2.25 and the 100 hourly simple moving average.
- On the hourly chart of the XRP/USD pair (data source from Kraken) it broke above the downtrend line connecting with resistance at $2.185.
- If it clears the $2.30 resistance, the pair may start a decent rally.
XRP Price Eyes A Comeback
On the contrary, the price of XRP started to rise again from the support level of $2.12 Bitcoin and Ethereum. There was a significant rally above the $2.15 and $2.20 levels.
The price broke above the 23.6% Fib retracement level of the bearish move from the swing low of $2.383 to the low of $2.130. There was also a break above the downtrend line attached to the $2.185 resistance on the hourly chart of the XRP/USD pair.
However, bears were active near the $2.25 and $2.26 levels. The price is currently trading near $2.25 and the 100 hourly simple moving average. In the uptrend, the price may face resistance near the $2.265 level. The first major resistance is near the $2.28 level. This is near the 61.8% Fib retracement level of the downside move from the swing low of $2.383 to the low of $2.130.
The next resistance is $2.30. A clear move above the $2.30 resistance may push the price towards the $2.420 resistance. Any further upside may push the price towards the resistance at $2.50 or even $2.550 in the short term. The next major hurdle for the bulls could be $2.680.
Another crash?
If XRP fails to clear the $2.30 resistance zone, it may start another decline. Primary support on the downside is near the $2.188 level. The next major support is near the $2.120 level.
If there is a bearish breakout and it closes below the $2.120 level, the price may decline towards the $2.050 support. The next major support is near the $2.00 area.
Technical indicators
Hourly MACD – The MACD for XRP/USD is now losing momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Key support levels – $2.180 and $2.120.
Major resistance levels – $2.28 and $2.30.
