XRP has initiated a fresh upward movement,xrp news today twitter surpassing the $2.00 mark. The asset is displaying encouraging signals, with potential to overcome the $2.250 resistance barrier.
XRP has broken through the $2.120 resistance level, indicating strength.
Currently trading above $2.150, the asset is also above the 100-hourly Simple Moving Average.
A short-term bullish trend line is emerging, providing support at $2.188 on the hourly XRP/USD chart.
Clearing the $2.250 resistance could pave the way for further upward momentum.
XRP's Potential for an Upward Surge
XRP found solid footing near the $1.90 zone, mirroring the recovery seen in other major cryptocurrencies. The asset successfully breached the $2.00 and $2.050 resistance levels, showcasing renewed buyer interest.
The price action surpassed the $2.120 mark and the 50% Fibonacci retracement level of the previous decline from $2.365 to $1.90. However, sellers are currently testing the waters near the $2.250 resistance zone.
With the price holding above $2.150 and the 100-hourly SMA, the formation of a bullish trend line at $2.188 adds to the positive outlook. This technical pattern often precedes further gains.
On the higher side, the $2.250 level presents a key hurdle, coinciding with the 76.4% Fibonacci retracement level. A decisive break above this could open the door to $2.3650, with subsequent targets at $2.450 and $2.50.
The next significant resistance levels to watch include $2.550 and $2.650, with $2.80 emerging as a longer-term objective for bullish traders. The current setup suggests that XRP may be gearing up for a notable move if the buying pressure persists.
