XRP price started a fresh increase above the $1.950 resistance. The price is now consolidating and must settle above $2.00 for more gains.
XRP price started a fresh increase above the $1.880 and $1.950 levels.
The price is now trading above $1.920 and the 100-hourly Simple Moving Average.
There was a break above a short-term bearish trend line with resistance at $1.9750 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair might extend gains if there is a close above the $2.00 resistance zone.
XRP Price Eyes Fresh Gains
XRP price managed to stay above the $1.780 support zone and started a fresh increase, like Bitcoin and Ethereum. The price climbed above the $1.880 and $1.950 resistance levels.
A high was formed at $2.089 and the price recently started a downside correction. There was a move below the $2.00 support zone. The price dipped below the 23.6% Fib retracement level of the upward move from the $1.7210 swing low to the $2.0895 high.
However, the bulls were active near the $1.920 support. The price is now trading above $1.950 and the 100-hourly Simple Moving Average. Recently, there was a break above a short-term bearish trend line with resistance at $1.9750 on the hourly chart of the XRP/USD pair.
On the upside, the price might face resistance near the $2.00 level. The first major resistance is near the $2.050 level. The next resistance is $2.0750.
A clear move above the $2.0750 resistance might send the price toward the $2.120 resistance. Any more gains might send the price toward the $2.150 resistance or even $2.20 in the near term. The next major hurdle for the bulls might be $2.320.
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