$XRP Price Dips to Support: Is a Bullish Rebound on the Horizon? #Market_Update

🕉️ Buy and trade here 👇

#XRP price started a fresh increase above the $2.220 resistance zone. The price is now consolidating and might aim for a move above the $2.250 resistance.

XRP price started a fresh increase above the $2.220 zone.

The price is now trading above $2.220 and the 100-hourly Simple Moving Average.

There is a key bullish trend line forming with support at $2.185 on the hourly chart of the XRP/USD pair (data source from Kraken).

The pair might start another increase if it clears the $2.250 resistance zone.

Downside Break?☀️

If XRP fails to clear the $2.25 resistance zone, it could start another decline. Initial support on the downside is near the $2.20 level. The next major support is near the $2.1850 level.

If there is a downside break and a close below the $2.1850 level, the price might continue to decline toward the $2.150 support. The next major support sits near the $2.120 zone.

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 – $2.20 and $2.1850.

Major Resistance Levels – $2.250 and $2.30.

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