๐ฅ XRP Begins Its Comeback โ Is a Bullish Reversal on the Horizon? ๐
A bearish reversal began below $3.20 for XRP. The price is trying to rebound and may break $3.180.
A new decline below $3.20 began for XRP.
The price is below $3.20 and the 100-hour SMA.
XRP/USD broke over a negative trend line with resistance around $3.120 on the hourly chart.
The pair might rise again if it holds over $3.080.
XRP Price May Rise
Unlike Bitcoin and Ethereum, XRP fell below $3.30. Price fell below $3.250 and $3.220 support.
The price fell below the 50% Fib retracement line of the $3.004 swing low to $3.330 high. Bears drove the price below $3.120. Finally, bulls emerged around $3.080.
The price established support at the 76.4% Fib retracement level of the $3.004 swing low to $3.330 high. XRP/USD broke over a negative trend line with resistance around $3.120 on the hourly chart.
The price is below $3.20 and the 100-hour SMA. Price may find resistance at $3.170 on the upside. Around $3.20 is the first substantial obstacle. A clean break over $3.20 might push the market above $3.250. More advances might push the price toward $3.330 or $3.350. Bulls may face a significant test at $3.40.
Another Drop?
XRP may fall again if it fails to break $3.20. Initial downside support is $3.080. Near $3.020 is the next important support.
If the price breaks down and closes below $3.020, it may fall near $3.00. Bulls may mount a stand at $2.980, the next significant support.
Tech Indicators
Hourly MACD on XRP/USD is falling in the negative zone.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $3.080, $3.020.
Key Resistance Levels: $3.170, $3.20.
