#XRP Price Prediction: 8% rally likely, technical indicators turn bullish

XRP extends recent gains and hovers around $2.33 at the time of writing on Monday.

The $XRP daily price chart shows that the price could rally 8% and test resistance at $2.51, the 50% Fibonacci retracement of the decline from the $3.40 peak to the $1.62 low. If XRP sees a daily candlestick close above $2.51, it could test resistance at $2.72 and $2.72, the 61.8% Fibonacci retracement and the lower boundary of the Fair Value Gap (FVG) on the daily chart, respectively.

The Relative Strength Index (RSI) indicator reads 62 in the daily chart, above its neutral level and sloping upwards, indicating rising bullish momentum. The Moving Average Convergence Divergence (MACD) indicator flashes consecutively green histogram bars above the neutral line, signaling an underlying positive momentum in the XRP price trend.

On the other side, the 23.6% Fibonacci retracement at $2.04 is a key support for XRP. A flash crash in Bitcoin or a market-wide correction could send the altcoin to test this level.