Today, XRP is showing signs of a potential upward movement. The price is currently consolidating after a fresh increase, with the bulls aiming to push it above the $2.320 resistance level. (Source: News Article, Date: Current Date)
XRP started a fresh increase from the $2.050 zone, mirroring Bitcoin and Ethereum. The price successfully moved above the $2.120 and $2.20 resistance levels. The bulls even managed to push the price above $2.25.
The price briefly tested the $2.320 resistance, reaching a high of $2.3294. It's now consolidating above the 23.6% Fibonacci retracement level of the recent upward move. Currently, XRP is trading above $2.220 and the 100-hourly Simple Moving Average.
A key bullish trend line is forming, with support at $2.270 on the hourly chart. On the upside, the price might face resistance near $2.320, with the first major resistance at $2.350. Further gains could target $2.40, $2.420, $2.480, and even $2.50.
If XRP fails to break the $2.320 resistance, it could decline, with initial support near $2.2750 and major support at $2.250. A break below $2.250 might lead to a further decline towards $2.220.
Technical indicators show a bullish trend. The Hourly MACD is gaining momentum in the bullish zone, and the Hourly RSI is above the 50 level.