XRP Rockets Past $2.00, Eyes Further Gains in Bullish Surge XRP has ignited a significant upward trajectory, surging past the $2.00 mark and captivating trader attention. Following in the footsteps of market leaders like Bitcoin and Ethereum, XRP is currently consolidating its impressive gains, with analysts eyeing a potential break beyond the $2.165 resistance zone for continued momentum.
XRP's Unstoppable Rally and Key Levels
The cryptocurrency initiated a strong ascent, successfully clearing resistance levels at $2.00 and $2.020. This bullish momentum propelled XRP beyond the $2.10 resistance, with buyers pushing the price above the $2.150 zone to establish a high near $2.165. Currently, XRP is trading comfortably above $2.10 and its 100-hourly Simple Moving Average, indicating sustained strength. A crucial bullish trend line has formed, offering robust support at the $2.070 level on the hourly chart. Should XRP manage to settle above the $2.20 threshold, it could pave the way for further gains, potentially targeting resistances at $2.250, $2.320, and even $2.350.
Potential Downside and Critical Support Zones
Despite the optimistic outlook, traders remain vigilant for potential corrections. If XRP fails to breach and sustain above the $2.1650 resistance zone, it could trigger a fresh decline. Initial downside support is anticipated near $2.120. A more significant support level lies around $2.070, which aligns with the 50% Fib retracement level of the recent upward move from $1.983 to $2.165. A breach below this point could see the price testing $2.020, with further major support at $2.00. Technical indicators, including the Hourly MACD and RSI, currently lean bullish, with the MACD gaining pace in the bullish zone and the RSI remaining above the 50 level. Disclaimer: The information provided in this summary is for educational purposes only and does not constitute financial advice. Cryptocurrency investments carry inherent risks. Readers are advised to conduct their own research before making any investment decisions.
