XRP price corrected some losses and climbed above the $2.25 zone. The price is now struggling to clear the $2.350 resistance zone. XRP price is attempting a fresh increase above the $2.250 resistance zone. The price is now trading above $2.25 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2.285 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start a decent increase if it clears the $2.350 resistance. XRP Price Faces Hurdles XRP price started a fresh increase above the $2.20 support level, like Bitcoin and Ethereum . There was a decent increase above the $2.25 and $2.30 levels. The price even tested the $2.35 level before the bears appeared. A high was formed at $2.348 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $2.130 swing low to the $2.348 high. The price is now trading above $2.25 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2.285 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $2.32 level. The first major resistance is near the $2.35 level. The next resistance is $2.40. A clear move above the $2.40 resistance might send the price toward the $2.50 resistance. Any more gains might send the price toward the $2.550 resistance or even $2.650 in the near term. The next major hurdle for the bulls might be $2.720. Another Decline? If XRP fails to clear the $2.350 resistance zone, it could start another decline. Initial support on the downside is near the $2.28 level and the trend line. The next major support is near the $2.240 level or the 50% Fib retracement level of the upward move from the $2.130 swing low to the $2.348 high. If there is a downside break and a close below the $2.240 level, the price might continue to decline toward the $2.20 support. The next major support sits near the $2.050 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $2.280 and $2.240. Major Resistance Levels – $2.350 and $2.40.
