XRP traded above $2.10 on January 5 after breaking 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 above $2.00 and $2.020 alongside gains in Bitcoin and Ethereum. The token broke through resistance at $2.10 and briefly surpassed $2.150 before peaking at $2.165.
The price is now holding above the 100-hour simple moving average and the 23.6% Fibonacci retracement level measured between the low of $1.983 and the high of $2.165. A bullish trend line has formed with support at $2.070 on the hourly chart.
If XRP extends its rise, a resistance is located near $2.1650, then at $2.180. A clear breakout above $2.20 could send the token towards $2.250, with further resistances at $2.320 and $2.350.
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Why it’s important: technical perspective
A first bearish support appears at $2.120 if the token fails to break through the resistance at $2.1650. The next major support level is at $2.070, which corresponds to the 50% Fibonacci retracement level of the recent bullish move.
A close below $2.070 could push XRP towards $2.020, with additional support near $2.00. Below this level, the token could test $1.9650.
The hourly MACD indicator has gained momentum in bullish territory, while the relative strength index has remained above 50. Key support levels are at $2.10 and $2.070, with resistances at $2.1650 and $2.20.
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