XRP Price Analysis: Bullish Trend Holds, But Will it Break $2.30?
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XRP price recently experienced a surge, exceeding the $2.220 and $2.30 resistance levels, reaching a high of $2.327 before a correction. The current price is consolidating above $2.180 and the 100-hourly Simple Moving Average, supported by a key bullish trend line at $2.20. This upward movement initially outpaced Bitcoin and Ethereum. However, the price has pulled back, dipping below the $2.280 level and the 50% Fibonacci retracement level of its recent rally. Bullish momentum could resume if the price decisively breaks through the $2.280 resistance, potentially targeting $2.30, $2.320, $2.350, $2.40, and even $2.450. Conversely, failure to clear $2.280 could trigger another decline, with support levels at $2.220, $2.20, $2.150, and $2.120. Technical indicators present a mixed picture. The hourly MACD is losing bullish momentum, while the RSI remains above 50, suggesting some strength. The overall outlook remains cautiously bullish, contingent on whether XRP can sustain its position above the key $2.20 support and overcome the resistance at $2.280. A decisive break above $2.320 would strongly signal the continuation of the upward trend. The situation is dynamic and requires close monitoring of price action and technical indicators.
(Source: https://www.newsbtc.com/analysis/xrp/xrp-price-surges-then-cools-2-20/)
