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XRP has started a bearish reversal below $3.20. The price is struggling to bounce back and may break through $3.180.
XRP has initiated a new decline below $3.20.
The price is below $3.20 and the 100-hour simple moving average (SMA).
XRP/USD has broken through a negative trend line on the hourly chart, with resistance around $3.120.
If the pair maintains above $3.080, it might rise again.
XRP price may rise
Unlike Bitcoin and Ethereum, XRP is below $3.30. The price has fallen below the support levels of $3.250 and $3.220.
The price has fallen below the 50% Fibonacci retracement line from the low of $3.004 to the high of $3.330. Bears have pushed the price down to below $3.120. Finally, bulls emerged around $3.080.
The price established support at the 76.4% Fibonacci retracement level from the low of $3.004 to the high of $3.330. XRP/USD has broken through a negative trend line on the hourly chart, with resistance around $3.120.
The price is below $3.20 and the 100-hour SMA. The price may encounter resistance at $3.170 when moving up. The first substantial obstacle is around $3.20. A clear break above $3.20 could push the market beyond $3.250. Further increases could push the price towards $3.330 or $3.350. Bulls may face a significant test at $3.40.
Another decline?
If XRP fails to break above $3.20, it may decline again. The initial downward support level is $3.080. Close to $3.020 is the next significant support.
If the price breaks and closes below $3.020, it may drop to around $3.00. Bulls may find footing at $2.980, which is the next important support.
Technical indicators
The hourly MACD for XRP/USD is declining in the negative range.
The hourly RSI for XRP/USD is above 50.
Major support levels: $3.080, $3.020.
Key resistance levels: $3.170, $3.20.
