The price of XRP is gaining momentum

The price of XRP remained stable above the support level of $2.020 and began a steady rise, outperforming Bitcoin and Ethereum. A breakout occurred above the levels of $0.2120 and $0.220.

The bulls managed to surpass the 50% Fibonacci retracement level of the downward wave from the high of $2.3540 to the low of $2.2081. Additionally, the XRP/USD pair broke through the key bearish trendline with resistance at $2.20 on the hourly chart.

The price is currently trading above $2.20 and the 100-hour simple moving average. From a growth perspective, the price may face resistance at $2.2850. This is approximately the 76.4% Fibonacci level of the downward wave from the high of $2.3540 to the low of $2.2081.