XRP’s value experienced a recent uptick above the $3.050 mark, maintaining its gains and potentially continuing to rise if it surpasses the $3.20 resistance level.

XRP saw an increase of more than 15% and surged toward the $3.40 range.
Currently, the price is trading below $3.250 and the 100-hourly Simple Moving Average.
An hourly chart of the XRP/USD pair from Kraken shows a bearish trend line forming with resistance at $3.20.
If XRP manages to stay above the $2.880 support, it could initiate a fresh upward movement.

XRP Sees Support Levels Tested

XRP’s value notably rose above the $2.750 and $2.880 resistance marks, outperforming counterparts like Bitcoin and Ethereum. The price successfully surpassed $3.050 and $3.20.

After reaching the $3.40 range, a correction occurred, leading to a low of $2.81. The price is now recovering, having breached the 50% Fib retracement level from the recent downward swing.

Currently below $3.20 and the 100-hourly Simple Moving Average, a bearish trend line with resistance at $3.20 is evident on the XRP/USD pair’s hourly chart.

Resistance near $3.130 and $3.20 lies ahead as potential hurdles, with the $3.20 level serving as the primary resistance and $3.230 as the subsequent level.

A decisive move past the $3.230 resistance could propel XRP towards $3.320. Further gains may lead to $3.40 or even $3.420 in the near future, with $3.50 posing as a crucial barrier for bullish momentum.

Potential Downside Risk

If XRP struggles to breach the $3.20 resistance, a downward trend could emerge. Initial support rests at $3.00, followed by a significant level at $2.88.

A breach and close below $2.88 could prompt a decline towards the $2.750 support, with additional support around $2.650.

Technical Indicators

Hourly MACD – Showing bullish momentum for XRP/USD.

Hourly RSI (Relative Strength Index) – RSI for XRP/USD currently below the 50 level.

Key Support Levels – $3.00 and $2.880.

Key Resistance Levels – $3.130 and $3.20.

The post XRP Continues Strong Price Hold with Uptrend Unwavering appeared first on Crypto Breaking News.

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Filed under: News - @ January 20, 2025 4:24 am