XRP is showing renewed bullish strength as it rebounds above the $2.25 level. The price is currently stabilizing and could soon attempt to break above the crucial $2.32 resistance barrier.
XRP Builds Momentum
Similar to Bitcoin and Ethereum, XRP formed a solid base around the $2.05 level and began climbing higher. The bulls managed to push the price above key resistance levels at $2.12 and $2.20, ultimately reclaiming the $2.25 mark.
The price recently tested the $2.32 resistance and is now consolidating gains. It remains well above $2.25 and the 100-hour Simple Moving Average (SMA). A bullish trend line has also formed on the hourly XRP/USD chart, with strong support seen near $2.27.
Key Resistance Levels Ahead
On the upside, immediate resistance is at $2.32. A successful break above this level could open the door for a move toward $2.35. If the bulls maintain control, the next hurdles lie at $2.40 and $2.42. A clean break above $2.42 could spark a rally toward $2.48 or even $2.50, with $2.55 being the next key target for buyers.
Pullback Levels to Watch
However, if XRP fails to break above $2.32, a short-term correction may occur. Initial support is seen around $2.275, with stronger support at $2.25. This aligns with the 76.4% Fibonacci retracement level of the recent upward move from the $2.225 swing low to the $2.329 high.
A break below $2.25 could see XRP slide toward $2.22, with further support near the $2.20 mark.
Technical Indicators
MACD (Hourly): Gaining strength in the bullish zone
RSI (Hourly): Holding above the 50 level, indicating bullish momentum
Key Support Levels: $2.275, $2.250
Key Resistance Levels: $2.320, $2.350
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Conclusion:
XRP is showing bullish signs above $2.25 and could rally further if buyers manage to clear the $2.32 resistance. A strong push past $2.35 and $2.40 could confirm a larger breakout. However, failure to break $2.32 may lead to a pullback toward $2.25 or lower.
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