After testing the $2.320 support level,How much is Dogecoin worth right now? XRP has shown resilience and begun moving upward. The next critical challenge lies at the $2.50 and $2.52 resistance levels, which could determine the asset's near-term trajectory.
XRP established a solid foundation at $2.320 before initiating its current upward movement.
The digital asset currently trades above both $2.420 and the 100-hourly Simple Moving Average, indicating positive momentum.
A significant bullish trend line has emerged on the XRP/USD hourly chart, with support currently holding at $2.380 (Kraken data).
Overcoming the $2.50 resistance barrier could potentially trigger a new wave of buying activity.
XRP Demonstrates Market Resilience
Unlike some other major cryptocurrencies that experienced deeper corrections, XRP successfully maintained its position above the crucial $2.32 support level. This stability allowed for the formation of a base, from which the price has gradually advanced past $2.35 and $2.40 thresholds.
The recovery has been substantial enough to surpass the 50% Fibonacci retracement level, measured from the recent swing high of $2.5241 down to the $2.3353 low. Current trading activity suggests growing confidence among market participants, with the price now testing the $2.50 resistance area. The aforementioned bullish trend line at $2.380 continues to provide technical support on shorter timeframes.
With the price comfortably above both the $2.420 level and the 100-hourly SMA, attention now turns to potential resistance at $2.480. This level coincides with the 76.4% Fibonacci retracement of the recent downward movement from $2.5241 to $2.3353.
The immediate resistance cluster around $2.50 represents the first significant hurdle. A decisive break above this level, followed by confirmation above $2.520, could open the path toward $2.60. Continued momentum might then target the $2.65 and $2.72 areas, with $2.80 emerging as a more distant objective for bullish traders.
Potential Downside Scenarios
Should XRP encounter rejection at the $2.50 resistance zone, traders should monitor the $2.420 level for initial support. The more substantial support area lies near $2.380, where the developing trend line currently resides.
A breakdown below $2.380, particularly if accompanied by sustained selling pressure, could see the price retest the $2.32 support base. Further weakness might then bring the $2.20 region into focus as the next major support zone.
Technical Indicators
Hourly MACD – The Moving Average Convergence Divergence indicator shows increasing bullish momentum for XRP/USD.
Hourly RSI (Relative Strength Index) – Currently positioned above the neutral 50 level, suggesting favorable conditions for buyers.
Primary Support Levels – $2.420 followed by $2.380.
Key Resistance Levels – $2.50 and $2.520.
