XRP Decreases to Support Level: Is a Price Rise About to Happen?

XRP has started a new increase in the resistance zone $2,220. The price is currently consolidating and may aim for a move above the resistance level $2,250. The XRP price started to rise again above the $2,220 level. The price is currently trading above $2,220 and the 100-hour Simple Moving Average. There is a significant bullish trend line forming with support at $2,185 on the hourly chart of the XRP/USD pair (nguồn data from Kraken).The pair could start to rise further if it breaks through the $2,250 resistance zone. XRP Price Maintains Support Level The price of XRP remains stable above the support level of $2.050 and has begun to show significant upward movement, outperforming Bitcoin and Ethereum. There is upward movement above $0.2150 and $0.20. Buyers have been able to break through the resistance zone of $2.25. A high was formed at $2.2816 and the price is currently adjusting the increase. The price has dropped below the level of $2.25 and the 50% Fib retracement level of the upward move from the low of $2.137 to the high of $2.2816. The price is currently trading above $2.20 and the 100-hour Simple Moving Average. There is also an important bullish trend line forming with support at $2,185 on the hourly chart of the XRP/USD pair. It is close to the 61.8% Fib retracement of the bullish move from a low of $2,137 to a high of $2.2816.

On the positive side, the price may encounter resistance around the $2.2320 level. The first major resistance level is near $2.250. The next resistance level is $2.2850. A clear move above the $2.2850 resistance could bring the price to the $2.320 resistance. Any further increase could push the price to the $2.350 resistance or even $2.380 in the near future. The next major resistance for the buyers could be $2.40. Weakness? If XRP does not break through the resistance zone of 2.25 dollars, it may start another downtrend. Initial support on the decline is near the 2.20 dollar level. The next major support is near the 2.1850 dollar level. If there is a bearish breakout and a close below the level of $2,1850, the price may continue to decline towards the support level of $2,150. The next major support level is near the zone of $2,120. Technical Index • Hourly MACD – The MACD for XRP/USD is currently slowing down in the zone of bullishness. • Hourly Relative Strength Index (RSI) – The RSI for XRP/USD is currently below 50. • Key support levels – $2.20 and $2.1850. • Major resistance levels – $2,250 and $2,30.