XRP/USD remains in a tight consolidation phase as bulls aim to reclaim control above the critical $2.20 resistance level.
According to data from Kraken, XRP experienced a recent pullback below $2.20, aligning with broader market weakness seen in Bitcoin and Ethereum. The token slipped past key support levels at $2.18 and $2.15, touching an intraday low of $2.12 before stabilizing.
At the time of writing, XRP is trading just below $2.20 and remains under the 100-hourly Simple Moving Average. However, technical indicators suggest a tightening range, potentially setting the stage for a decisive breakout.
Triangle Pattern Builds Bullish Pressure
A contracting triangle pattern is forming on the XRP/USD hourly chart, with immediate resistance at $2.17. A break above this level could set the tone for a fresh rally. A more significant hurdle lies at $2.20, a level that has repeatedly capped upside moves in recent sessions.
A successful close above $2.20 would pave the way for a test of $2.2280 — the 50% Fibonacci retracement level from the $2.335 swing high to the $2.120 low. If momentum continues, further gains could extend to $2.25, $2.2850, and potentially $2.32 or $2.35 in the near term.
Downside Risk Still in Play
If bulls fail to overcome the $2.20 resistance, XRP could retrace toward immediate support at $2.1450. A break below $2.12 would likely trigger fresh bearish momentum, with the next support seen at $2.05, followed by a critical psychological level at $2.00.
Technical Outlook
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MACD (Hourly): Losing momentum in the bearish zone, signaling reduced selling pressure.
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RSI (Hourly): Currently above the neutral 50 mark, indicating early bullish bias.
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Key Support: $2.1450 and $2.120
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Key Resistance: $2.170 and $2.20
Market Sentiment
The broader crypto market remains cautiously optimistic amid macroeconomic and regulatory uncertainty. XRP traders are watching closely for confirmation of a trend direction, with price tightening hinting at an imminent breakout.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
