XRP Price Aims for a Breakout - Can Bulls Overcome Key Resistance?

XRP Gains Momentum After Recovery, But Can It Surpass $2.250?

XRP has begun a fresh recovery wave after bouncing from the $1.90 support level. The cryptocurrency is now displaying bullish signs and is approaching a critical resistance zone at $2.250, which could determine its next major move.

XRP Price Attempts a Comeback

Following a failed attempt to break past $2.20, XRP saw a sharp decline, mirroring price movements in Bitcoin and Ethereum. The bears successfully drove the price below key support levels at $2.120 and $2.050, with XRP even dipping beneath the $2.00 threshold before finding a bottom at $1.90.

However, the token has since regained ground, climbing above $1.980 and $2.00. It also managed to surpass the 50% Fibonacci retracement level of the downward move from its $2.365 swing high to the $1.90 low.

Currently, XRP is trading below the $2.1850 mark and remains under the 100-hourly Simple Moving Average (SMA). A short-term rising channel is forming on the hourly chart of the XRP/USD pair, with key resistance sitting at $2.250.

This resistance aligns closely with the 76.4% Fibonacci retracement level of the recent downtrend, making it a crucial level for the bulls to conquer. Should they succeed, the next major resistance stands at $2.350, followed by $2.420. A strong push past $2.420 could propel XRP toward $2.450, with further gains potentially taking the price as high as $2.50 or even $2.550 in the near future. The final major barrier for bulls in this upward trajectory lies at $2.650.

Potential for Another Drop?

Despite its current recovery, XRP remains vulnerable to another decline if it fails to breach the $2.250 resistance zone. In such a scenario, immediate support sits at $2.150, with the next critical level at $2.120.

A decisive break below $2.120 could accelerate losses, sending XRP toward the $2.050 support. If selling pressure intensifies further, the price may revisit the $2.00 region.

Technical Indicators

• Hourly MACD – Losing momentum in the bearish zone.
• Hourly RSI – Holding above the 50 level, indicating a slight bullish bias.
• Major Support Levels – $2.120 and $2.050.
• Major Resistance Levels – $2.250 and $2.350.

The next few trading sessions will be crucial as XRP approaches this pivotal resistance zone. Will the bulls push through, or is another pullback on the horizon?