XRP Price Prediction: Consolidation Persists — Bulls Need Fresh Push For Breakout

XRP price started a fresh increase above $2.50. The price is now showing positive signs and might rise further if it clears the $2.6880 ￰0￱ price gained pace for a move above $2.50 and $2.550. The price is now trading above $2.50 and the 100-hourly Simple Moving ￰1￱ is a bullish trend line forming with support at $2.60 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $2.6880 ￰2￱ Price Holds Support XRP price started a fresh increase after it settled above $2.40, like Bitcoin and ￰3￱ price surpassed the $2.420 and $2.50 resistance ￰4￱ bulls were able to push the price above $2.550 and $2.65.

A high was formed at $2.6972 and the price is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $2.327 swing low to the $2.6972 ￰5￱ price is now trading below $2.60 and the 100-hourly Simple Moving ￰6￱ is a bullish trend line forming with support at $2.60 on the hourly chart of the XRP/USD ￰7￱ there is a fresh upward move, the price might face resistance near the $2.650 ￰8￱ first major resistance is near the $2.6880 level, above which the price could rise and test $2.70. A clear move above the $2.70 resistance might send the price toward the $2.7650 ￰9￱ more gains might send the price toward the $2.80 ￰10￱ next major hurdle for the bulls might be near $2.880.

Downside Correction? If XRP fails to clear the $2.6880 resistance zone, it could start a fresh ￰11￱ support on the downside is near the $2.60 ￰12￱ next major support is near the $2.5650 ￰13￱ there is a downside break and a close below the $2.5650 level, the price might continue to decline toward $2.5120 or the 50% Fib retracement level of the recent move from the $2.327 swing low to the $2.6972 ￰14￱ next major support sits near the $2.4680 zone, below which the price could continue lower toward $2.420. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish ￰15￱ RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 ￰16￱ Support Levels – $2.60 and $2.580.

Major Resistance Levels – $2.650 and $2.6880.