XRP's price has initiated a fresh increase, surpassing the $2.20 mark. Currently, the price is stabilizing around the $2.280 area, potentially setting the stage for another surge. This upward movement mirrors the trends observed in Bitcoin and Ethereum.
The price of XRP experienced a notable climb, exceeding the $2.150 and $2.20 resistance levels. Trading activity pushed the price beyond $2.220 and $2.250, signaling a strong upward trend. A peak was reached at $2.294 before a slight correction occurred.
Despite a dip below the $2.280 and $2.250 support levels, XRP found support near the $2.220 zone. The price remains above $2.220 and the 100-hourly Simple Moving Average. A bullish trend line with support at $2.240 is also evident on the hourly chart for the XRP/USD pair.
Potential resistance lies near the $2.30 level, with further resistance at $2.320 and $2.350. A breakthrough above $2.350 could propel the price towards $2.420, potentially reaching $2.450 or even $2.50. The next significant challenge for buyers may be at $2.620.
Conversely, failure to overcome the $2.30 resistance could trigger a decline, with initial support around $2.2450. A break below $2.220 might lead to further drops towards the $2.20 support level. The subsequent major support is located near the $2.150 zone.