Ah, the price of XRP, that elusive creature, has embarked on a fresh ascent, soaring above the $2.20 threshold. Yet, as is often the case with such capricious entities, it now finds itself in a state of correction, perhaps seeking refuge near the $2.2150 mark.
- Indeed, XRP has initiated a commendable upward trajectory, leaving the $2.20 zone in its wake.
- Currently, it dances above the $2.20 line, accompanied by the 100-hourly Simple Moving Average, as if flaunting its newfound status.
- A bullish trend line, like a faithful companion, is forming with support at $2.180 on the hourly chart of the XRP/USD pair (data courtesy of Kraken, of course).
- Should it muster the courage to breach the $2.280 resistance zone, we may witness yet another surge.
Will XRP Continue Its Ascent?
Our dear XRP has managed to maintain its position above the $2.080 level, embarking on a commendable rise, even outpacing the likes of Bitcoin and Ethereum. It has triumphantly crossed the $2.150 and $2.20 resistance levels, much to the delight of its supporters.
The bulls, in a fit of enthusiasm, have propelled the price over 5%, pushing it past the $2.220 resistance. It has now flirted with the $2.3350 zone, only to correct some of its gains. Alas, it dipped below the $2.30 level, testing the 50% Fibonacci retracement level of its upward journey from the $2.141 swing low to the $2.336 high.
At present, the price hovers above $2.220, accompanied by the 100-hourly Simple Moving Average. Furthermore, a key bullish trend line is forming with support at $2.180 on the hourly chart of the XRP/USD pair.
On the horizon, the price may encounter resistance near the $2.280 level. The first significant barrier lies at $2.320, followed closely by the $2.3350 mark. A decisive move above the $2.3350 resistance could propel the price toward the $2.380 resistance. Should it continue to gain momentum, we might even see it approach the $2.40 or $2.420 levels in the near future. The next formidable challenge for the bulls could very well be the $2.50 mark.
Is a Decline Imminent?
However, should XRP falter in its quest to conquer the $2.280 resistance zone, we may witness yet another decline. Initial support on the downside is situated near the $2.220 level, with the next significant support lurking at $2.2150, coinciding with the 61.8% Fibonacci retracement level of the upward move from the $2.141 swing low to the $2.336 high.
Should there be a downside break and a close below the $2.2150 level, the price might continue its descent toward the $2.180 support. The next major support lies near the $2.120 zone.
Technical Indicators:
Hourly MACD – The MACD for XRP/USD is now losing its bullish momentum.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 50 level, but for how long?
Major Support Levels – $2.2150 and $2.180.
Major Resistance Levels – $2.280 and $2.3350.
Read More
- Gold Rate Forecast
- Tom Cruise Bags Gold: Mission Impossible Star Lands Guinness World Record for Highest Burning Parachute Jumps
- Mobile MOBA Games Ranked 2025 – Options After the MLBB Ban
- Are Billie Eilish and Nat Wolff Dating? Duo Flames Romance Rumors With Sizzling Kiss in Italy
- Tom Hiddleston and Wife Zawe Ashton Announce Second Pregnancy, Know Couple’s Relationship Timeline
- Is Justin Bieber Tired of ‘Transactional Relationship’ with Wife Hailey Bieber? Singer Goes on Another Rant Raising Concerns
- Justin Bieber Tells People to ‘Point at My Flaws’ Going on Another Rant, Raises Alarm With Concerning Behavior
- Resident Evil 9: Requiem Announced: Release Date, Trailer, and New Heroine Revealed
- Summer Game Fest 2025 schedule and streams: all event start times
- Apothecary Diaries Ch.81: Maomao vs Shenmei!
2025-06-17 07:23