XRP Price Analysis: Bullish Momentum Above $2.50

XRP price has demonstrated a surge in bullish momentum, breaking above the crucial $2.50 resistance level. This positive movement is supported by several technical indicators and chart patterns. The price is currently trading above the $2.50 mark and the 100-hourly Simple Moving Average, with a key bullish trend line forming support at this level. This upward trajectory is further reinforced by the hourly MACD, which is gaining momentum in the bullish zone, and the RSI, which sits above the 50 level, indicating bullish strength. The recent rally saw XRP climb above the $2.45 resistance and reach a high of $2.5870 before consolidating gains above the 23.6% Fib retracement level. However, the path ahead isn't without potential obstacles. Resistance levels lie near $2.5880, $2.60, and $2.620. A decisive break above $2.60 could propel XRP toward $2.620, $2.650, and even $2.6850. Conversely, failure to overcome the $2.620 resistance could trigger a decline, with initial support near $2.50 and the trend line. Further downside pressure could lead to support levels at $2.450, $2.420, and $2.40. The analysis suggests a bullish outlook for XRP, but caution is warranted, as the price action depends on its ability to sustain momentum above key resistance levels. The $2.50 level is now acting as crucial support, and a decisive break below it could invalidate the bullish scenario. Traders should monitor these key support and resistance levels for confirmation of further price movements. The overall trend appears bullish, but potential for correction exists.

(Source: https://www.newsbtc.com/analysis/xrp/xrp-price-builds-momentum-2-50/)