XRP has been attracting investor attention as it enters a bullish trend, surpassing the $2.50 mark. This indicates a consolidation phase and the potential for a breakout above the $2.62 resistance level.
XRP is currently trading above the $2.50 threshold and the 100-hourly Simple Moving Average, indicating a bullish sentiment among traders. Technical indicators, such as a connecting bullish trend line and the 50% Fibonacci retracement level, support this positive outlook.
XRP's recent performance has outpaced Bitcoin and Ethereum, reaching a high of $2.7267 before encountering selling pressure. Key resistance levels to watch are $2.58, $2.620, $2.720, and $2.80. On the downside, initial support is at $2.520, with further support at $2.440 and $2.350.
The technical indicators, including the MACD and RSI, also support a bullish outlook. Traders and investors should remain vigilant as XRP navigates these critical price levels, with broader market conditions and investor sentiment playing a role in its future trajectory.
Overall, XRP's recent price action reflects a dynamic market environment with potential for both upward and downward movements.