XRP Price Gains Traction — Buyers Pile In Ahead Of Key Technical Breakout

XRP price started a fresh increase above $2.45. The price is now showing positive signs and might rise further if it clears the $2.680 ￰0￱ price is attempting a fresh increase above the $2.50 ￰1￱ price is now trading above $2.50 and the 100-hourly Simple Moving ￰2￱ is a bullish trend line forming with support at $2.580 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $2.680 ￰3￱ Price Eyes Steady Increase XRP price formed a base above $2.320 and started a fresh increase, like Bitcoin and ￰4￱ price surpassed the $2.380 and $2.450 resistance ￰5￱ bulls were able to push the price above $2.50 and $2.55.

A high was formed at $2.668 and the price is now consolidating gains above the 23.6% Fib retracement level of the recent wave from the $2.327 swing low to the $2.668 ￰6￱ price is now trading below $2.50 and the 100-hourly Simple Moving ￰7￱ is a bullish trend line forming with support at $2.580 on the hourly chart of the XRP/USD ￰8￱ there is a fresh upward move, the price might face resistance near the $2.660 ￰9￱ first major resistance is near the $2.680 level, above which the price could rise and test $2.750. A clear move above the $2.750 resistance might send the price toward the $2.80 ￰10￱ more gains might send the price toward the $2.920 ￰11￱ next major hurdle for the bulls might be near $2.950.

Are Dips Supported? If XRP fails to clear the $2.680 resistance zone, it could start a fresh ￰12￱ support on the downside is near the $2.60 ￰13￱ next major support is near the $2.580 ￰14￱ there is a downside break and a close below the $2.580 level, the price might continue to decline toward $2.50 or the 50% Fib retracement level of the recent wave from the $2.327 swing low to the $2.668 ￰15￱ next major support sits near the $2.450 zone, below which the price could continue lower toward $2.40. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish ￰16￱ RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 ￰17￱ Support Levels – $2.60 and $2.580.

Major Resistance Levels – $2.660 and $2.680.