XRP has experienced a significant price surge, rising over 30% and currently trading above the $2.50 mark. The cryptocurrency is consolidating near $2.40 and shows potential for further gains if it manages to surpass the $2.50 resistance level.
The price recently increased from the $1.80 mark, outperforming major cryptocurrencies like Bitcoin and Ethereum. After moving past the $2.00 and $2.20 resistances, XRP reached a high of $2.51 and is now consolidating its gains.
Certain technical indicators and trend lines on the XRP/USD pairing, particularly on the hourly chart, indicate a possibility for the price to continue climbing beyond the $2.50 and potentially reach the next resistances of $2.55 and $2.65.
However, if XRP is unable to clear the $2.50 resistance, it could initiate a downside correction, with key support levels at $2.35 and $2.25. Further decline might cause the price to test lower support levels, potentially down to the $2.00 zone.
Overall, technical indicators such as the hourly MACD and RSI suggest a bullish zone for XRP/USD, with resistances offering potential targets for price growth if breached.
