XRP traded above $2.10 on Jan. 5 after breaking through the $2.00 threshold. The token reached a session high of $2.165 before entering a consolidation phase above $2.10.
What Happened: Price Movement
XRP climbed past $2.00 and $2.020 alongside Bitcoin and Ethereum gains. The token pushed through $2.10 resistance and briefly exceeded $2.150 before peaking at $2.165.
The price now holds above the 100-hourly Simple Moving Average and the 23.6% Fibonacci retracement level measured from the $1.983 swing low to the $2.165 high. A bullish trend line formed with support at $2.070 on the hourly chart.
If XRP extends gains, resistance sits near $2.1650, followed by $2.180. A clear move above $2.20 could send the token toward $2.250, with further resistance at $2.320 and $2.350.
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Why It Matters: Technical Outlook
Initial downside support appears at $2.120 if the token fails to breach $2.1650 resistance. The next major support level sits at $2.070, representing the 50% Fibonacci retracement level of the recent upward move.
A close below $2.070 could push XRP toward $2.020, with additional support near $2.00. Below that level, the token may test $1.9650.
The hourly MACD indicator gained momentum in bullish territory, while the Relative Strength Index traded above 50. Major support levels stand at $2.10 and $2.070, with resistance at $2.1650 and $2.20.
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