As of May 10, 2025, Ripple's XRP has demonstrated a significant recovery, breaking through multiple resistance levels and signaling potential for further gains.
š Technical Analysis Highlights
Current Price: $2.35
24h High / Low: $2.42 / $2.29
24h Change: +0.01732%
After finding support at $2.08, XRP initiated a new upward trend, surpassing the $2.10 and $2.12 resistance levels. A breakout above the bearish trend line near $2.1450 on the hourly chart indicates that buyers are gaining control. The price is now trading above $2.15 and the 100-hour simple moving average, suggesting continued bullish momentum.
š Potential Upside Targets
If the current trend persists, XRP may test resistance levels at $2.1680 and the 50% Fibonacci retracement level of the recent decline from $2.2580 to $2.0780. A clear move above $2.18 could open the door for a rally towards $2.20, with further potential to reach $2.22, $2.25, or even $2.30 in the short term.
ā ļø Downside Risks
However, failure to break above the $2.18 resistance zone might lead to a downside correction. Initial support lies near $2.1320, followed by $2.12. A break below $2.12 could push the price back towards the $2.08 support level, with further losses potentially driving it down to $2.05.
š Technical Indicators
MACD: The hourly Moving Average Convergence Divergence (MACD) for XRP/USD is gaining momentum in the bullish zone.
RSI: The Relative Strength Index (RSI) for XRP/USD is above 50, indicating bullish strength.
š§ Conclusion
XRP's recent price action suggests a strong bullish trend, with the potential to reach higher resistance levels in the near term. Investors should monitor key support and resistance zones to assess the sustainability of this upward momentum.
Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high level of risk and volatility. Always conduct your own research (DYOR) and consult a professional financial advisor before making any investment decisions.
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