XRP price started a consolidation phase above the $2.40 area. The price is currently rising and could target an upside target above $2.50.

XRP price started a significant increase above the $2.40 level.

The price is currently trading above the $2.420 level and the 100 Hourly Simple Moving Average.

There was a break above a key ascending channel with resistance at $2.450 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could start a further increase if it clears the $2.480 resistance.
XRP Price Aims for Higher Growth
XRP price remains supported above the $0.2320 level and started a bullish run, following Bitcoin and Ethereum. There was a move above the $0.2350 and $0.2365 resistance levels.

The price even surpassed the $0.240 resistance. There was a break above a major ascending channel with resistance at $2.450 on the hourly chart of the XRP/USD pair. The bulls pushed the price towards $0.250. A high was formed at $0.2479 and the price is currently consolidating gains above the 23.6% Fib retracement level of the upward move from the $2.3360 swing low to $2.4796 high.

The price is currently trading above $2.40 and the 100 hourly simple moving average. On the upside, the price may face resistance near the $2.480 level. The first major resistance is near the $2.50 level.

The next resistance is at $2.550. A clear move above the $2,550 resistance could push the price towards the $2,650 resistance. Any further gains could push the price towards the $2,720 resistance or even $2,750 in the near term. The next major hurdle for the bulls could be at $2.80.

Are Dips Capped?
If XRP fails to clear the $2.50 resistance zone, it could start another decline. The initial support on the downside is near the $2,450 level. The next major support is near the $2.40 level and the 50% Fib retracement level of the upward move from the $2.3360 swing low to $2.4796 high.

If there is a downside break and close below $2.40, the price could continue to decline towards the $2,350 support. The next major support level is near the $2.3250 area.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is currently accelerating in the bullish zone.

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

Major Support Levels – $2.450 and $2.420.

Major Resistance Levels – $2.480 and $2.50.