🔄 XRP Dips — Minor Correction or the Start of a Larger Trend Shift?
XRP fought over $3.10. Reversing gains, the price may fall below $2.90.
After rising from $3.10, XRP is correcting.
The price is below $2.980 and the 100-hour SMA.
XRP/USD broke below a positive trend line with support around $3.060 on the hourly chart.
If it remains over $2.880, the pair may rise again.
Dropping XRP Price XRP price, like Bitcoin and Ethereum, faced resistance over $3.10 again. The price made a short-term peak and fell below $3.00.
XRP/USD broke below a positive trend line with support around $3.060 on the hourly chart. The pair fell below the 23.6% Fib retracement line of the $2.730 swing low to $3.106 high.
The price is below $3.00 and the 100-hour SMA. Bulls are at the 50% Fib retracement level of the $2.730 swing low to $3.106 high.
The price may find resistance at $2.950 on the upside. First significant resistance is around $3.00. A clean break over $3.00 might push the market above $3.0650. More advances might push the price toward $3.10 or $3.120. Bulls may face a significant test around $3.20.
More Losses?
XRP may fall again if it fails to break $3.00. Near $2.920 is first downside support. Near $2.880 is the next important support.
If the price breaks down and closes below $2.880, it may fall below $2.810 support. Bulls may mount a stand at $2.750, the next significant support.
Tech Indicators
The hourly MACD for XRP/USD is moving bearishly.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $2.920, $2.880.
Major resistance levels: $3.00 and $3.10.
