XRP Price On Edge — 100 SMA Break Could Trigger Surge

XRP price started a fresh increase above the $2.150 zone. The price is now consolidating and facing hurdles near the $2.250 level.

• XRP price started a fresh increase and climbed above the $2.20 zone.
• The price is now trading below $2.250 and the 100-hourly Simple Moving Average.
• There was a break above a connecting bearish trend line with resistance near $2.2350 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair might start another increase if there is a close above the $2.250 resistance.

XRP Price Eyes Fresh Surge

XRP price remained supported above $2.125 and started a decent increase, but it lagged Bitcoin and Ethereum . The price was able to surpass the $2.150 and $2.20 resistance levels.

There was a move above the 23.6% Fib retracement level of the downward move from the $2.359 swing high to the $2.1250 low. Besides, there was a break above a connecting bearish trend line with resistance near $2.2350 on the hourly chart of the XRP/USD pair.

The price is now trading below $2.250 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.250 level. The first major resistance is near the $2.30 level and 76.4% Fib retracement level of the downward move from the $2.359 swing high to the $2.1250 low.

The next resistance is $2.350. A clear move above the $2.350 resistance might send the price toward the $2.420 resistance. Any more gains might send the price toward the $2.450 resistance or even $2.50 in the near term. The next major hurdle for the bulls might be $2.650.

Dips Supported?

If XRP fails to clear the $2.250 resistance zone, it could start another decline. Initial support on the downside is near the $2.20 level. The next major support is near the $2.180 level.

If there is a downside break and a close below the $2.180 level, the price might continue to decline toward the $2.120 support. The next major support sits near the $2.050 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.20 and $2.120.

Major Resistance Levels – $2.250 and $2.30.