Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
XRP Price Attempts a Turnaround—Can It Break Free from Resistance?

XRP Price Attempts a Turnaround—Can It Break Free from Resistance?

NewsbtcNewsbtc2025/02/11 07:44
By:Aayush Jindal

XRP price tested the $2.280 zone and recently corrected some losses. The price is now facing hurdles near the $2.50 and $2.60 levels.

  • XRP price started a recovery wave from the $2.280 zone.
  • The price is now trading above $2.40 and the 100-hourly Simple Moving Average.
  • There was a break above a connecting bearish trend line with resistance at $2.450 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might start a fresh increase if it clears the $2.50 resistance zone.

XRP Price Eyes Upside

XRP price started a recovery wave from the $2.280 support zone, like Bitcoin and Ethereum . A base was formed and the price started an increase above the $2.32 and $2.35 levels.

The bulls were able to push the price above the 23.6% Fib retracement level of the downward move from the $2.7849 swing high to the $2.2794 low. There was also a break above a connecting bearish trend line with resistance at $2.450 on the hourly chart of the XRP/USD pair.

The price is now trading above $2.40 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.50 level.

The first major resistance is near the $2.5320 level or the 50% Fib retracement level of the downward move from the $2.7849 swing high to the $2.2794 low. The next resistance is $2.60. A clear move above the $2.60 resistance might send the price toward the $2.720 resistance.

Source: XRPUSD on TradingView.com

Any more gains might send the price toward the $2.780 resistance or even $2.80 in the near term. The next major hurdle for the bulls might be $2.880.

Another Decline?

If XRP fails to clear the $2.50 resistance zone, it could start another decline. Initial support on the downside is near the $2.380 level or the 100-hourly Simple Moving Average. The next major support is near the $2.280 level.

If there is a downside break and a close below the $2.280 level, the price might continue to decline toward the $2.140 support. The next major support sits near the $2.050 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.380 and $2.280.

Major Resistance Levels – $2.50 and $2.60.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Bitcoin Surpasses Amazon as 5th Largest Global Asset

Bitcoin has overtaken Amazon in market value, becoming the fifth-largest asset worldwide once again.What’s Driving Bitcoin’s Recent Surge?What This Means for the Crypto Market

Coinomedia2025/07/11 13:20
Bitcoin Surpasses Amazon as 5th Largest Global Asset

Smart Wallets Scoop Up $199M in Ethereum

A new wallet has bought $199M in ETH within 48 hours, signaling strong Ethereum accumulation.Ethereum Accumulation in a Bearish MarketWhat This Means for Retail Investors

Coinomedia2025/07/11 13:20
Smart Wallets Scoop Up $199M in Ethereum

ETH Eyes $3K: Will Break-Even Sellers Stall the Rally?

ETH nears $3,000 with little resistance until $3,100. Will profit-taking from long-term holders impact the rally?Break-Even Sellers Could Test MomentumWhat to Watch Next

Coinomedia2025/07/11 13:20
ETH Eyes $3K: Will Break-Even Sellers Stall the Rally?

ETH/BTC Just Flipped Bullish: What It Means

ETH/BTC has turned bullish, signaling a potential shift in market momentum. Here’s what it means for crypto traders and investors.Market Momentum Shifts: ETH/BTC Turns BullishWhat This Flip Could Mean for TradersIs It Time to Reallocate?

Coinomedia2025/07/11 13:20
ETH/BTC Just Flipped Bullish: What It Means