XRP climbed above $2.150 in recent trading sessions and now sits at a critical technical juncture. The cryptocurrency trades above its 100-hour simple moving average while forming a contracting triangle pattern with resistance at $2.20.
What Happened: Price Recovery
XRP maintained support above the $2.00 threshold and began a recovery wave that pushed the price past $2.050 and $2.10. The move carried the cryptocurrency above the 61.8% Fibonacci retracement level of its decline from a $2.2750 swing high to a $1.9844 low. The price now consolidates near the 76.4% Fibonacci retracement level of that same downward move, facing immediate resistance at $2.220.
A close above $2.220 would clear the path toward $2.250, with subsequent resistance levels at $2.350, $2.40, $2.450 and $2.50. The hourly MACD indicator shows increasing momentum in bullish territory, while the relative strength index sits above the 50 level.
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Why It Matters: Technical Crossroads
The current price action places XRP at a decision point where a breakout above $2.250 could trigger additional buying pressure toward higher resistance zones. Failure to clear this level would likely result in a retreat toward support at $2.180 and $2.150. A break below $2.150 could extend losses toward $2.10, with the next major support zone at $2.050.
The contracting triangle formation typically precedes significant price movement in either direction.
Traders monitor whether XRP can sustain trading above its 100-hour moving average and break through the triangle's upper boundary.
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