XRP price regains momentum, strong upward trend reappears
XRP price has shown strong upward momentum after breaking through the key resistance zone of $2.150 to $2.20. The price has broken through the resistance zones of $2.220 and $2.250, continuing to rise, and ultimately forming a peak near $2.294. Despite subsequent corrections, the price remains near the key support level.
Support level is solid, XRP is expected to continue rising
Currently, the XRP price is supported near the $2.220 area and maintains around the 50% Fibonacci retracement level. At the same time, the price is above the 100-hour simple moving average and has formed a bullish trend line, with support at $2.240. These factors indicate that XRP is still in an upward trend, with the next target possibly being $2.30.
If the XRP price successfully breaks through the resistance level of $2.350, it may rise to $2.420 and further challenge price levels of $2.450 or even $2.50. The next major target for the bulls may be $2.620, indicating that the XRP price is expected to see new gains in the short term.
Downside risk: $2.220 is a key support
If XRP fails to break through $2.30, a pullback may occur. The first support level on the downside is at $2.2450, and a further decline may test the support at $2.220. If it breaks below $2.220, the price may continue to decline to $2.20 or even $2.150.
Technical indicators show bullish signals
Hourly MACD: Currently in the bullish area and accelerating upward.
Hourly RSI: Above the 50 level, indicating that market sentiment is leaning towards bulls.
The key for XRP's short-term trend is whether it can break through the resistance at $2.350; if successful, it may further push the price to $2.50.
