XRP is currently trading at $2.20, up 1.37% in the last 24 hours, following a volatile week that saw the token briefly surge to $2.30 before reversing course. The move marked a rare breakout above three major exponential moving averages (EMAs), with a sharp increase in volume suggesting strong buying interest. Although the rally was short-lived, technical indicators now show signs of growing bullish momentum as XRP stabilises above its structural support. XRP consolidates above $2.00 as support strengthens Since April, XRP has remained locked in a narrow band, hovering between $2.00 and $2.10, unable to break long-standing resistance levels. This week, however, XRP climbed sharply to $2.30, briefly breaking past the 50-day, 100-day, and 200-day EMAs — a rare technical alignment in recent months. The move signalled renewed buying interest but was quickly rejected. Despite the reversal, XRP has since stabilised. As of now, the token is trading at $2.20, showing a 1.37% gain in the past 24 hours. This level now acts as an interim support as traders evaluate whether a more sustained breakout is possible. Source: CoinMarketCap RSI climbs as XRP holds gains The Relative Strength Index (RSI) broke into the mid-50s during the price jump, a noticeable improvement from the neutral-to-bearish range seen throughout June. XRP’s RSI currently stands at 51.44 , reflecting a shift in sentiment that aligns with the recent upward movement. The spike to $2.30 was also supported by a surge in trading volume, challenging the idea that the move was simply the result of thin liquidity. With XRP now consolidating at $2.20, technical indicators remain positive. The price action above the 200-day EMA, which has held as a long-term support since early Q2, adds weight to the case for continued upside momentum. $2.30 remains a critical resistance for bulls While XRP has not been able to maintain levels above $2.30, the fact that it touched this key resistance indicates there is still strong demand. Market watchers continue to monitor this level, as a clean break and close above it could trigger further buying interest and potential trend reversal. Until then, the 200-day EMA and the current $2.20 level are expected to serve as support. Failed breakouts like the recent one often help eliminate weaker hands and prepare the market for a stronger upward move if volume and momentum return. Bullish trend intact if XRP holds above $2.20 XRP’s recent technical activity suggests it may be preparing for a larger move. Although the rally to $2.30 faltered, XRP holding above $2.20 reinforces the view that momentum is building. The 1.37% daily gain adds weight to the idea that traders are once again engaging with the token. Whether XRP can break above the resistance remains to be seen, but its current structure shows signs of support. If bids increase and RSI remains in bullish territory, the next attempt at breaching $2.30 could be more sustained. The post XRP price spikes to $2.30 before reversal; momentum builds above key support at $2.20 appeared first on Invezz
