After failing at the resistance area of 3,20 USD, XRP sharply corrected close to the psychological mark of 3,00 USD. A short-term bottom has been established at 2,999 USD and buying pressure is gradually returning.
Recovery Signal?
The price has recovered above 3,080 USD and reclaimed 23.6% of the correction level from the peak of 3,33 USD to the bottom of 2,999 USD.
However, XRP is still below the 100-hour SMA and faces strong resistance at 3,150 USD (downtrend line).
Breaking 3,165 USD will be a confirmation signal for a new uptrend, opening targets of 3,20 – 3,30 – 3,35 USD.
Risk If Rejected
Does not exceed 3,165 USD, the price may return to the 3,00 USD area.
If the 3,00 USD mark is breached, the next support area is at 2,920 USD and 2,850 USD – a key area to maintain the medium-term bullish structure.
Technical Indicators
MACD: Losing downward momentum, slight recovery possible.
RSI: Trading above 50, neutral signal.
Conclusion
XRP is at the 'trend knot' area. Breaking 3,165 USD will confirm the upward momentum, while failing here could pull the price back below 3,00 USD. Investors should closely monitor the two levels: 3,165 USD and 3,00 USD – determining factors for the next direction.
