The XRP price has seen several swing moves from the resistance at $2.85. The price is consolidating near the USD 2.50 level and may seek further increases above the USD 2.65 level.

• XRP price is trying to accelerate to break above the resistance zone at $2.80.
• The price is currently above $2.30 and the 100-hour straightforward moving average.
• A key bullish trendline is forming on the hourly chart of the XRP/USD pair with support at $2.25 (data source from Kraken).
• The pair could continue to accelerate if it breaks through the resistance at $2.72.

XRP price maintains gains above $2.30

The XRP price has made another attempt to break the resistance at $3.00. However, it failed to break above $2.85 and correct some gains unlike Bitcoin and Ethereum. There was a move below the $2.65 and $2.50 levels.

The bottom was formed at USD 2,276 and the price is currently correcting losses. There was a move above the $2.40 and $2.50 levels. The bulls pushed the stock back above the 50% Fib retracement level from its recent decline from a high of $2,848 to a low of $2,276.

The price is currently above $2.30 and the 100-hour straightforward moving average. A key uptrend line is also forming on the hourly chart of the XRP/USD pair with support at $2.25.

On the downside, the price may face resistance near the $2,620 level. The first major resistance is near the USD 2,720 level. It is close to the 76.4% Fib retracement level formed during the recent decline from a high of $2,848 to a low of $2,276.

The next key resistance could be $2,850. A clear move above the resistance at $2,850 could push the price towards the resistance at $2,950. Continued gains could push the price towards the resistance at $3.00 or even $3.150 in the near future. The next major hurdle for bulls could be the price of $3.20.

Are dips circumscribed?

If XRP fails to break the resistance zone at $2,620, another decline could begin. Initial downside support is near the $2.50 level. The next vital support is near the $2.40 level.

If there is a breakout to the downside and a close below the $2.40 level, the price could continue to fall towards the $2.30 support and the trendline. The next major support is near the $2,050 zone.

Technical indicators

Hourly MACD – The MACD for XRP/USD is currently losing momentum in the bullish zone.

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

Main support levels – USD 2.5000 and USD 2.4000.

Major resistance levels – $2.6200 and $2.7200.