XRP Price Spikes Over 10% With Traders Rushing Back Into the Rally

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP price started a steady increase above $2.20. The price is now consolidating gains and might aim for another increase if it stays above the $2.180 level. XRP price started a fresh increase above the $2.120 zone. The price is now trading above $2.20 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2.00 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it clears $2.280. XRP Price Gains Momentum XRP price started a decent upward move above $2.020 and $2.050, beating Bitcoin and Ethereum . The price gained pace for a clear move above the $2.120 resistance. Besides, there was a break above a key bearish trend line with resistance at $2.00 on the hourly chart of the XRP/USD pair. The pair even surpassed the $2.20 barrier. A high was formed at $2.286 and the price started a consolidation phase above the 23.6% Fib retracement level of the upward move from the $1.817 swing low to the $2.286 high. The price is now trading above $2.20 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2.280 level. The first major resistance is near the $2.320 level, above which the price could rise and test $2.350. Source: XRPUSD on TradingView.com A clear move above the $2.350 resistance might send the price toward the $2.4620 resistance. Any more gains might send the price toward the $2.50 resistance. The next major hurdle for the bulls might be near $2.550. Another Decline? If XRP fails to clear the $2.280 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.180 level. The next major support is near the $2.080 level. If there is a downside break and a close below the $2.080 level, the price might continue to decline toward $2.050 and the 50% Fib retracement level of the upward move from the $1.817 swing low to the $2.286 high. The next major support sits near the $2.020 zone, below which the price could continue lower toward $1.9250. 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 above the 50 level. Major Support Levels – $2.180 and $2.080. Major Resistance Levels – $2.280 and $2.320.