XRP Consolidates Near $2.75 as Market Eyes Fresh Rally

XRP is maintaining its position above the $2.60 threshold, suggesting potential for bullish momentum if it breaches the $2.750 resistance.

The cryptocurrency initiated a steady climb above $2.60, supported by trading above the 100-hourly Simple Moving Average . A prominent bullish trend line with support at $2.680 on the hourly chart of the XRP/USD pair indicates potential upward movement. The pair could experience another surge if it surpasses the $2.750 resistance mark.

Unlike Bitcoin and Ethereum , the XRP price has held firm above the $2.50 support, moving into a positive territory.

After establishing a base, it climbed past $2.55 and $2.65, overcoming the initial resistance at $2.750 before encountering the next challenge at $2.840. With a high of $2.8322, XRP is currently consolidating its gains following a brief dip below $2.75 and the 23.6% Fibonacci retracement level from the $2.330 swing low to the $2.8322 high.

The outlook remains positive as the price sustains above $2.650 and the 100-hourly Simple Moving Average. On the upside, resistance is expected near the $2.750 level, followed by significant barriers at $2.80 and $2.840. Successfully breaking past $2.840 could propel the price toward $2.920 and potentially to $3.0 or $3.050. A hurdle at $3.120 might challenge further upward movement.

Should XRP fail to surpass the $2.750 resistance, it risks declining again. Key support looms at $2.680 along the trend line, followed by $2.60, aligning with the 50% Fibonacci retracement level from the $2.330 swing low to the $2.8322 high. A decisive break below $2.60 could see the price slide toward support at $2.550, followed by a critical $2.50 support zone.

The hourly MACD is gaining momentum, signaling a bullish trend for XRP/USD, while the hourly RSI rests below the 50 level. Major support levels include $2.680 and $2.60, with crucial resistance areas at $2.750 and $2.840.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.