- XRP’s price rebounded from $1.90 support, with resistance at $2.45, indicating strong bullish momentum.
- Golden cross of 50 EMA above 200 EMA at $2.26 strengthens XRP’s long-term bullish outlook with support above $2.20.
- RSI at 70.24 signals overbought conditions, suggesting potential pullback before XRP tests psychological resistance at $2.50.
XRP price, on December 2, moved by 11.41% in 24 hours to trade at $2.41 at press time. Analyst Dark Defender has identified key levels, with resistance at $2.42 and support at $2.22. Multiple indicators on short and medium timeframes indicate a bullish momentum, though overbought levels suggest potential for consolidation or pullback.
Bollinger Bands Show Key Levels
Using Bollinger Bands on a 4-hour timeframe, the upper boundary at $2.4538 is a crucial resistance level. The lower band at $1.90 acts as a support zone, where the price rebounded, ending a prior bearish trend.
The middle band, a 20-day simple moving average (SMA), is at $2.17. The price surged past this level, further supporting the bullish outlook. However, being near the upper boundary may indicate a short term consolidation or a minor pullback toward the middle band.
MAs Signal Long-Term Bullish Momentum
Moving averages show a strong upward movement. On the 1-hour timeframe, the 50 EMA at $2.26 has crossed above the 200 EMA at $2.20, forming a golden cross. This bullish indicator further complements sustained upward momentum.
With the price above both EMAs, they now act as strong support levels. The price has consistently formed higher highs and higher lows, supporting the bullish sentiment. Key resistance is at $2.45, with psychological resistance at $2.50.
RSI and Volume Suggest Potential Slowdown Ahead
The RSI is at 70.24, near overbought levels. While this shows strong buying pressure, it also suggests a possible slowdown. Investors should remain cautious as a dip below the 70 level could see a correction toward short term support at $2.26 or the 200 EMA at $2.20.
XRP is showing strong bullish momentum with key levels at $2.45 resistance and $2.17 support. XRP’s potential upward targets are near $2.60 if resistance breaks, though overbought conditions suggest vigilance for pullbacks. The overall momentum remains positive, aligning with broader market trends.
