XRP Price Rebounds From Lows as Bulls Push Recovery Toward Key Levels
Overview
XRP has begun a recovery phase after hitting a low at $1.9840. The price has moved above $2.120 and is currently facing resistance near the $2.250 level, marking a significant shift in market momentum.
Price Movement and Technical Analysis
XRP price started its recovery from the $1.9840 zone, demonstrating resilience as it trades above $2.120 and the 100-hourly Simple Moving Average. The price action indicates a break above a key bearish trend line that had resistance at $2.150 on the hourly chart of the XRP/USD pair.
During its recent decline, XRP fell below the $2.050 support level, similar to trends observed in Bitcoin and Ethereum. The price even dipped below $2.00 before the bulls stepped in, forming a low at $1.9844. Following this, the price managed to recover by surpassing both the $2.050 and $2.120 levels.
Furthermore, XRP has moved above the 50% Fibonacci retracement level of the downward move from a previous swing high to the recent low. This bullish momentum has allowed the price to rise above $2.150 and the 100-hourly Simple Moving Average.
If XRP maintains its upward trajectory, potential resistance levels are anticipated near $2.20 and the 76.4% Fibonacci retracement level of the downward move. The first major resistance is identified at $2.250, and a close above this level could lead to further upward movement toward $2.320. Additional resistance levels are noted at $2.350 and $2.40, while the next significant hurdle for the bulls may be around $2.50.
Conversely, if XRP fails to surpass the $2.250 resistance zone, it may initiate a decline. Initial support is near the $2.120 level, followed by a major support level at $2.10. A break below $2.10 could lead to a continued drop toward $2.050, with further downside potential toward the $2.00 zone and possibly $1.920.
Technical Indicators
- Hourly MACD: The MACD for XRP/USD is gaining momentum in the bullish zone.
- Hourly RSI: The RSI for XRP/USD is currently above the 50 level.
- Major Support Levels: $2.120 and $2.10.
- Major Resistance Levels: $2.20 and $2.250.
Impact on the crypto market
- XRP’s recovery from recent lows may boost overall market sentiment.
- A successful breach of the $2.250 resistance could indicate strengthening bullish momentum.
- The price movement of XRP may influence other cryptocurrencies, particularly Bitcoin and Ethereum.
- Continued fluctuations in XRP could impact trading volumes and investor interest in the altcoin market.
- The technical indicators suggest potential volatility in the short term, affecting trader strategies.
Updated: 12/3/2025, 4:34:33 AM
