XRP (XRP) Price: Technical Indicators Turn Bullish as Momentum Builds
TLDR
XRP price rose above $2.25 with bulls pushing toward $2.32 resistance level after forming a base around $2.05
The cryptocurrency is trading above its 100-hourly moving average with a bullish trend line supporting at $2.27
Technical indicators show momentum shifting positive with RSI above 50 and MACD gaining pace in bullish territory
Exchange outflows and reduced Network Value to Transactions ratio suggest potential accumulation by investors
Key resistance zone exists between $2.29-$2.36 with major support levels at $2.275 and $2.25
XRP price has started a fresh upward move above the $2.25 zone after forming a solid base around $2.05. The cryptocurrency pushed through multiple resistance levels including $2.12 and $2.20 before testing the $2.32 resistance area.
The price reached a high of $2.3294 during this rally. XRP is now consolidating above the 23.6% Fibonacci retracement level of the recent upward move.
Current trading shows XRP holding above $2.22 and the 100-hourly Simple Moving Average. A key bullish trend line has formed with support established at $2.27 on the hourly chart.
Technical Analysis Points to Potential Upside
The hourly MACD indicator is gaining pace in the bullish zone. The Relative Strength Index has moved above the neutral 50 level, showing early signs of momentum shift.
Source: TradingView
On the upside, XRP faces resistance near $2.32. The first major resistance sits at $2.35 with additional barriers at $2.40 and $2.42.
A clear break above $2.40 could send the price toward $2.48 or even $2.50 in the near term. The next major hurdle for bulls would be the $2.55 level.
If XRP fails to clear the $2.32 resistance zone, initial support exists at $2.275. The next major support level is at $2.25, which aligns with the 76.4% Fibonacci retracement level.
Market Data Shows Signs of Accumulation
Exchange data reveals capital outflows on June 5th, though these outflows were weaker than those seen in May. The reduced exchange reserves suggest accumulation activity is taking place.
The Network Value to Transactions ratio has declined recently compared to previous sessions. This metric indicates the token might be undervalued due to increased utility relative to its market cap.
Spot buyers have maintained dominance based on the 3-month Cumulative Volume Delta. However, the price has remained range-bound despite this buying pressure.
The On-Balance Volume indicator has been stuck in a range since April. It has been unable to set higher highs beyond March levels but has established a series of higher lows over the past two months.
The 2-week liquidation heatmap shows a large pool of liquidity built up between $2.29-$2.36. This liquidity cluster sits close to current market prices, making a move toward $2.36 likely.
Source: Coinglass
The mid-range resistance at $2.28 coincides with the 38.2% Fibonacci retracement level. This level is based on the 2025 drop from $3.40 to $1.61.
The 1-day timeframe RSI had been below 50 in recent weeks but now sits at 50.8. The swing structure remains bearish following rejection from the range high at $2.60.
XRP currently trades above key moving averages with technical indicators showing early bullish signals, though the cryptocurrency faces resistance in the $2.32-$2.36 zone.
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Filed under: News - @ June 10, 2025 8:28 am