In a shocking twist of cosmic fate, the price of XRP has decided to embark on a thrilling adventure above the $2.25 zone. It appears to be consolidating its gains, perhaps contemplating a daring leap over the $2.320 resistance, which, let’s be honest, is about as exciting as watching paint dry on a rainy day.
- XRP has kicked off a rather decent upward jaunt above the $2.220 zone, much to the surprise of absolutely no one.
- Currently, it’s frolicking above $2.250 and the 100-hourly Simple Moving Average, which sounds impressive until you realize it’s just numbers on a screen.
- A key bullish trend line is forming, with support at $2.270 on the hourly chart of the XRP/USD pair (data courtesy of the ever-reliable Kraken, who definitely don’t have a pet goldfish named Bob).
- If the pair can muster the courage to clear the $2.320 resistance zone, we might just witness another increase, or at least a mildly interesting afternoon.
XRP Price Aims for a Fresh Increase
In a plot twist worthy of a mediocre sci-fi novel, XRP has formed a base and started a fresh increase from the $2.050 zone, much like its more famous cousins, Bitcoin and Ethereum, who are probably too busy partying to notice.
The bulls, in a rare display of enthusiasm, have pushed the price above the $2.25 level. It even tested the $2.320 resistance, reaching a high of $2.3294, before deciding to consolidate gains above the 23.6% Fib retracement level, which sounds fancy but is really just a mathematical way of saying “we’re not sure what’s happening.”
Now, the price is trading above $2.220 and the 100-hourly Simple Moving Average, while a key bullish trend line is forming with support at $2.270. It’s all very thrilling, if you’re into that sort of thing.
On the upside, the price might encounter resistance near the $2.320 level. The first major resistance is lurking around the $2.350 level, followed closely by the $2.40 mark. If it manages to clear the $2.40 resistance, we might just see it gallivanting towards the $2.420 resistance. Any further gains could send it soaring towards $2.480 or even $2.50, which is about as exciting as finding a five-dollar bill in your old coat pocket. The next major hurdle for the bulls could be $2.550, which is just a number, really.
Are Dips Supported?
If XRP fails to clear the $2.320 resistance zone, it could start another decline, which would be about as welcome as a rainstorm at a picnic. Initial support on the downside is near the $2.2750 level, with the next major support lurking around the $2.250 level and the 76.4% Fib retracement level, which is just a fancy way of saying “we’re not sure what’s going on.”
If there’s a downside break and a close below the $2.250 level, the price might continue its descent towards the $2.220 support, with the next major support sitting near the $2.20 zone, which is just a number, really.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone, which sounds impressive until you realize it’s just a number.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level, which is about as exciting as watching grass grow.
Major Support Levels – $2.2750 and $2.250, which are just numbers on a screen.
Major Resistance Levels – $2.320 and $2.350, which are also just numbers on a screen.
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2025-06-10 06:25