XRP price has surged over 50%, currently trading above $2.50 and consolidating around $2.70. It is targeting further gains above the $2.80 level, with aspirations to break through the significant resistance of $3.
The hourly chart indicates a short-term contracting triangle forming with a resistance at $2.72. Successfully clearing the $2.75 resistance could propel XRP towards the $2.960 resistance or even $3.120 in the near future. The next hurdle for bulls stands at $3.20.
Technical indicators suggest bullish momentum as XRP trades above the 100-hourly Simple Moving Average. The hourly MACD is gaining in the bullish zone, while the RSI is above the 50 level, reinforcing the positive sentiment.
In case of a downside correction, immediate support is present near the $2.650 level, followed by stronger support at $2.520 or the 50% Fib retracement. A dip below these supports could lead XRP down to $2.450.
