The post XRP Price Gears Up: Is a Fresh Rally on the Horizon? appeared on BitcoinEthereumNews.com.

XRP price started a fresh surge above the $2.50 level despite pressure on Bitcoin. The price is still showing positive signs and aiming for a fresh increase above the $2.550 resistance. XRP price gained over 10% and rallied above the $2.50 zone. The price is now trading above $2.450 and the 100-hourly Simple Moving Average. There is a short-term bullish flag forming with resistance at $2.550 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start a fresh increase if it stays above the $2.40 support. XRP Price Remains In Uptrend Above $2.40 XRP price managed to start a fresh increase above the $2.42 and $2.45 resistance levels. The price gained over 10% and outperformed both Bitcoin and Ethereum. There was a move above the $2.50 and $2.550 levels. The price traded as high as $2.5979 and is currently consolidating gains. There was a minor move below the $2.55 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $2.246 swing low to the $2.597 high. The price is now trading above $2.450 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.550 level. There is also a short-term bullish flag forming with resistance at $2.550 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2.60 level. The next resistance is $2.65. A clear move above the $2.65 resistance might send the price toward the $2.735 resistance. Any more gains might send the price toward the $2.80 resistance or even $2.8250 in the near term. The next major hurdle for the bulls might be $2.950. Downside Correction? If XRP fails to clear the $2.550 resistance zone, it could start another decline. Initial support on the…

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Filed under: News - @ January 13, 2025 4:11 am