XRP Price Needs $2.25 Flip — Bulls Prepping for Fresh Momentum

XRP price started a fresh increase from the $2.1250 zone. The price is now rising and must clear the $2.250 resistance to gain bullish momentum.

• XRP price started a fresh increase from the $2.1250 zone.
• The price is now trading below $2.250 and the 100-hourly Simple Moving Average.
• There is a connecting bearish trend line forming with resistance near $2.2450 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair might start another increase if there is a close above the $2.250 resistance.

XRP Price Eyes Fresh Upside Move

XRP price started a downside correction from the $2.350 resistance zone, unlike Bitcoin and Ethereum. The price dipped below the $2.30 and $2.250 support levels.

The bears even pushed the price below the $2.20 level. A low was formed at $2.1250 and the price is again rising. There was a move above the $2.150 and $2.180 resistance levels. The price surpassed the 23.6% Fib retracement level of the downward move from the $2.359 swing high to the $2.1250 low.

The price is now trading below $2.250 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.2450 level. There is also a connecting bearish trend line forming with resistance near $2.2450 on the hourly chart of the XRP/USD pair.

The first major resistance is near the $2.250 level. The next resistance is $2.270 and the 61.8% Fib retracement level of the downward move from the $2.359 swing high to the $2.1250 low.

A clear move above the $2.270 resistance might send the price toward the $2.320 resistance. Any more gains might send the price toward the $2.350 resistance or even $2.3650 in the near term. The next major hurdle for the bulls might be $2.40.

Dips Supported?

If XRP fails to clear the $2.250 resistance zone, it could start another decline. Initial support on the downside is near the $2.180 level. The next major support is near the $2.1250 level.

If there is a downside break and a close below the $2.080 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.020 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now near the 50 level.

Major Support Levels – $2.180 and $2.1250.

Major Resistance Levels – $2.250 and $2.270.