Jakarta, Pintu News – Ripple recently embarked on a fresh upswing after breaking above $2.40, following in the footsteps of Bitcoin and Ethereum . Now, with some hurdles cleared, the digital currency is showing positive signs. If Ripple (XRP) can cross the next key resistance, there is potential for further gains.

Ripple (XRP) Technical Analysis

After successfully crossing the $2.420 and $2.50 resistance levels, Ripple (XRP) continues to show positive momentum. The bulls managed to push the price past $2.550 and $2.65, reaching a peak at $2.6972. Currently, Ripple (XRP) is consolidating gains above the 23.6% Fibonacci retracement level of the last move from $2,327 to $2,6972.

The price is currently trading below $2.60 and the 100-hour simple moving average. There is a bullish trend line formed with support at $2.60 on the hourly chart of the Ripple (XRP)/USD pair. In case of a fresh upside movement, the price may face resistance near the $2.650 level.

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Upside Potential and Resistance

The first major resistance is near $2.6880, where if successfully crossed, the price could try to break $2.70. If Ripple (XRP) manages to cross the $2.70 resistance, this could take the price towards the $2.7650 resistance. A further rise might push the price towards $2.80, and if this momentum continues, the next resistance that might be faced is near $2.880.

Correction and Price Support

If Ripple (XRP) fails to cross the $2.6880 resistance zone, the price may see a fresh decline. Initial support on the downside is near $2.60. The next major support is near $2.5650. In case of a downward breakout and close below the $2.5650 level, the price may continue to decline towards $2.5120 or the 50% Fibonacci retracement level of the last move from $2.327 to $2.6972. The next major support lies in the $2.4680 zone, below which the price could continue to drop towards $2.420.

Conclusion

With strong support and clear resistance, Ripple (XRP) is at a tipping point. Success in breaking through higher resistance could bring a new wave of optimism for investors and traders. However, failure to overcome this obstacle might trigger a deeper price correction.

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