$XRP Coils in Consolidation — Are Bulls Gearing Up for a Breakout?
#XRP rose from $2.150. Price is consolidating gains and may rise over $2.220.
Above $2.150, XRP price rose again.
The price is above $2.150 and the 100-hour SMA.
The hourly XRP/USD chart shows a bullish trend line with support around $2.1320.
If it breaks $2.220 barrier, the pair may rise.
XRP Price Looking Up
Like Bitcoin and Ethereum, XRP price strengthened and rose beyond $2.050. Price rose over $2.080 and $2.120 barrier.
The pair crossed $2.180 and just broke $2.220. The price is consolidating gains above the 23.6% Fib retracement line of the upward run from the $1.910 swing low to the $2.2294 high.
The price is above $2.180 and the 100-hour SMA. The hourly XRP/USD chart shows a bullish trend line with support around $2.1320.
Price may find resistance at $2.220 on the upside. Near $2.250 is the first big obstacle. $2.320 is next resistance. A clean break over $2.320 might push the price above $2.40.
More advances might push the price toward $2.480 or $2.50. The bulls may face $2.550 next.
Correcting Down?
XRP may fall again if it fails to break $2.220. Around $2.150 is first downward support. Near $2.1320 and the trend line is the next key support.
If the price breaks down and closes below $2.1320, it may fall below the $2.050 support or 50% Fib retracement level of the upward run from the $1.910 swing low to the $2.2294 high. Near $2.00 is the next important support.
Tech Indicators
Hourly MACD - XRP/USD MACD is rising in the positive zone.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $2.150, $2.1320.
Two major resistance levels: $2.220 and $2.250.
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