XRP Price Action: Fresh Increase and Key Support Levels

XRP has recently experienced a significant surge, breaking above the $2.050 resistance level and starting a fresh upward movement.

XRP price is up on Friday morning despite a broader crypto market pullback. The cryptocurrency had a strong showing on Thursday, breaking above the $2.050 resistance and setting the stage for further gains.

As the price is consolidating now, it has managed to stay above $2.080, suggesting potential for further gains if key resistance levels are breached.

Fresh Increase in XRP Price Action and Key Support Levels

The recent upward move saw XRP break through both the $1.980 and $2.050 resistance levels, indicating a renewed bullish momentum.

The price is currently trading above the 100-hourly Simple Moving Average (SMA), suggesting a continued positive trend.

Moreover, there is a bullish trend line forming with support at $2.10 on the hourly chart of the XRP/USD pair (data from Kraken) from where the price bounced back again.

Credit: TradingView

Focus on the $2.20 Resistance for XRP

In order for XRP to extend its gains, it must close above the $2.20 resistance zone.

This level remains a crucial point for a continuation of the bullish trend, as a sustained push above $2.20 could open the door to further price appreciation.

A drop below the key support at $2.10 could trigger a pullback.

Any drop below $2.00 could be used by traders and investors to open fresh bullish positions again.

Key Technical Levels to Watch

Here are some key technical levels to watch in the XRP price action:

Support: $2.10, $2.00, $1.90

Resistance: $2.20, $2.050, $2.10

XRP Price Prediction: Further Gains Expected as Long as $2.10 Holds

As XRP continues to show strong signs of upward momentum, traders and investors will be watching closely for a break above $2.20.

If the cryptocurrency manages to close above this level, it could set the stage for further gains, potentially driving the price to new highs.

However, any drop below the key support at $2.10 could trigger a pullback, so market participants will need to monitor this level closely.