Initially, the XRP price surged past the $2.265 level, indicating a new growth phase. Currently, it’s stabilizing, potentially gearing up for another rise that could exceed the $2.30 resistance barrier.
- XRP price started a decent upward move above the $2.250 zone.
- The price is now trading above $2.250 and the 100-hourly Simple Moving Average.
- There is a bullish trend line forming with support at $2.2750 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might start another increase if it clears the $2.30 resistance zone.
XRP Price Consolidates Gains
The price of XRP has established a foundation and has begun to rise from around the $2.10 mark, much like Bitcoin and Ethereum. It managed to surpass the hurdles at $2.150 and $2.20.
Initially, the bulls managed to drive the price beyond the $2.25 mark. Eventually, it reached a resistance at $2.320. A peak was established at $2.3294, and now the price is experiencing a pullback after gaining some momentum. There was also a drop below the 23.6% Fibonacci retracement line, which is a key support level derived from the upward trend that started at the $2.2250 low and peaked at $2.3294.
Currently, the price for this pair has moved beyond $2.250 and is now above its 100-hour Simple Moving Average. Additionally, there appears to be a developing upward trend line offering support at around $2.2750 on the hourly XRP/USD chart, suggesting a potential bullish trend.
Looking on the positive side, the cost could encounter obstacles around the $2.30 mark. Initially, a significant barrier is found at approximately $2.320. Following this, the resistance level lies at $2.350. A decisive break above $2.350 could propel the price towards the potential resistance of $2.40. Further gains could push the price towards the $2.420 resistance or potentially even reach $2.450 in the short term. The next significant challenge for the bulls may come at $2.50.
Downside Break?
If XRP doesn’t manage to surpass the $2.30 barrier, there could be a new drop in price. The initial support for potential falls lies around the $2.2750 mark and the trend line. A more significant support level can be found at $2.250, which also coincides with the 76.4% Fibonacci retracement point from the price range between $2.2250 low to $2.3294 high.
If the price falls significantly and drops below the $2.250 mark, it could potentially lead to a further decrease in value, heading towards the $2.220 level as potential support. A more significant support lies around the $2.20 region.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $2.2750 and $2.250.
Major Resistance Levels – $2.30 and $2.320.
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2025-06-11 06:28