XRP exhibits substantial growth, surpassing critical levels of $2.50 and $2.62, drawing attention from market watchers.
XRP Price Dynamics
XRP's price decisively crossed the $2.50 threshold, outperforming Bitcoin and Ethereum in recent market trends. It trades comfortably above $2.50, marked by crossing its 100-hour simple moving average. Developing a bullish trend line offers crucial support at $2.53 on the hourly XRP/USD chart sourced from Kraken. If the pair overcomes the $2.62 resistance, a new upward trajectory may commence.
Key Support and Resistance Levels
Recent XRP price movements saw it break past $2.55 and $2.62 resistances, peaking above $2.70 before consolidating and slightly dipping below $2.620. Trading remains above $2.50, with a supporting trend line aligning closely with the 50% Fib retracement level from the recent upswing. Initial resistance may be faced at $2.58, with significant barriers at $2.620 and further at $2.720. Surpassing $2.720 could propel the price towards $2.80, potentially reaching $2.920 or even $3.00 in the short term.
Technical Indicators
Should XRP struggle to breach the $2.620 resistance, a downward trend might emerge, with immediate support around $2.520 aligning with the ongoing trend line. Significant support levels further down include $2.440. A decisive break below $2.440 could bring a decline towards $2.350, with additional key support near $2.250. The MACD for XRP/USD is gaining momentum in the bullish zone, while the RSI remains above 50. Key support levels to watch include $2.520 and $2.440, and main resistance levels stand at $2.620 and $2.720.
XRP continues its steady upward trend, overcoming significant levels. However, future movement depends on the ability to break through current resistances.
