CandleFocus

XRP Price Steadies Above Support: Preparing for the Next Move?

Author: Content Editor
The XRP price is currently consolidating above $2.150 and may aim for a fresh increase above the $2.40 level. The price started to decline after failing to surpass the $2.50 resistance zone. However, it found support at $2.15 and is now trading above $2.20. It is testing the 23.6% Fib retracement level of the recent drop. The price is currently below $2.40 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.38. The first major resistance is at $2.40, followed by $2.50. A clear move above $2.50 could lead to further gains toward the $2.65 and $2.70 levels. On the downside, initial support is at $2.20, followed by $2.15. If the price breaks below $2.15, it could decline towards $2.05 and the trend line. The next major support is near the $2.00 zone. The MACD for XRP/USD is in the bearish zone and the RSI is below 50.

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