XRP has experienced a 22% increase in value over the last week, crossing the $2 mark for the first time in months. This surge has rekindled interest among investors, with technical indicators signaling strength along with a note of caution.

While the Relative Strength Index (RSI) for XRP has eased slightly, dropping from close to overbought levels, the overall outlook remains positive. The RSI currently stands at 60.5, indicating a moderation from the previous 67.8 reading.

Following a rapid rise from a low of 34.7 just a week ago, this shift suggests a quick change in momentum, potentially balancing out now after a strong rally and indicating some profit-taking activity in the short term.

The Ichimoku Cloud analysis also presents a bullish setup for XRP, with the price positioned favorably relative to key lines. However, a spacing narrowing between these lines might suggest a slowing down of the bullish momentum in the near future.

The tightening of XRP's EMA lines hints at a potential golden cross formation that could usher in an upward trend if supported by robust volume and positive momentum. If this materializes, it may drive the price towards higher resistance levels, with $2.23 being a crucial area to monitor.

Success in breaking above this level could pave the way for a push towards $2.50, but the sustainability of this advance is contingent on continued buying pressure. Conversely, a failure to maintain momentum could lead to a pullback, with $1.96 serving as a key support area. A breach below this level could shift sentiment bearish in the short term, potentially bringing the price down closer to $1.61.