XRP has just begun a strong recovery, surpassing the important resistance zone at $2.320 and is currently showing positive signals on the technical chart. If the upward momentum continues, XRP could soon break the resistance level of $2.45 and continue its upward journey in the near future.

XRP Rises Over 5%, Leading the Market

After stabilizing above the support level of $2.30, XRP's price made significant progress by breaking through the $2.350 threshold – an important resistance zone where it previously faced multiple failures. Not only that, XRP also surpassed the $2.40 level, establishing a short-term peak at $2.437, while recording an increase of over 5% – outperforming Bitcoin and Ethereum at the same time.

Currently, the price of XRP is trading steadily above the $2.350 level and is above the 100-hour simple moving average (SMA 100), indicating that the upward trend is still prevailing.

Strong Support and Positive Technical Signals

A main upward trend line is forming with the support zone around the $2.380 level on the hourly chart of the XRP/USD pair (data source from Kraken). This is an important support zone, combined with the $2.350 level – the 50% Fibonacci threshold of the upward wave from the bottom of $2.250 to the peak of $2.437 – creating a strong buffer if a short-term correction occurs.

The MACD indicator on the hourly chart is accelerating in the positive zone, while the RSI (Relative Strength Index) has surpassed the 50 threshold – two signals supporting the continuation of the upward trend.

Bullish Scenario

If the price of XRP can maintain above the support level of $2.350 and break through the nearby resistance zone of $2.435 – $2.450, it is likely that the next increase will push the price towards the $2.50 area. If buying pressure continues to increase, the price may test higher levels at $2.55 and even $2.60 in the short term. Surpassing $2.60, the next target for the bulls will be the $2.75 area.

Bearish Scenario

However, if XRP cannot break through the resistance level of $2.450, the possibility of a downward correction is possible. The first support level will be $2.380 – coinciding with the upward trend line. If this level is breached, the price could drop deep to around $2.350. A break below $2.350 would be a negative signal, causing the price to possibly slide to the next support at $2.320, and even further down to the $2.265 area.

Technical Summary

  • MACD (hourly): Rising in the positive zone

  • RSI (hourly): Surpassing the 50 threshold, maintaining the strength of the upward trend

  • Important support: $2.380, $2.350

  • Important resistance: $2.4350, $2.450, followed by $2.50 and $2.60

Conclusion: With positive technical signals and current upward momentum, XRP is facing the opportunity to break through the strong resistance zone at $2.450 to continue its price increase journey. However, investors need to closely monitor price reactions around the support zone of $2.350 – $2.380 to determine the next direction in the short term. #BTCBreaksATH