XRP Struggles Below Resistance – Can Bulls Regain Control?
XRP is currently facing strong resistance near $3.020 and struggling to break higher. After climbing from $2.730 to $3.106, the price is now in correction mode and consolidating. If it fails to stay above $2.880, a further drop could follow.
Current Outlook:
XRP failed to clear the $3.10 resistance, mirroring the moves of Bitcoin and Ethereum. After forming a short-term top, the price dipped below $3.020 and even $3.00, briefly testing support around $2.920. This level aligns with the 50% Fibonacci retracement of the upward move from $2.730 to $3.106.
Technical Highlights:
Key resistance levels: $3.020 and $3.10 Key support levels: $2.920 and $2.880 The 100-hour Simple Moving Average sits near $2.980, providing additional resistance. A downward trendline on the hourly XRP/USD chart signals resistance at $3.020.
Bullish Scenario:
If XRP holds above $2.880, there's a chance for a fresh rally.
A break above $3.020 could trigger momentum toward $3.10. Clearing that level might open doors to $3.120, and possibly $3.180 or even $3.20. The next major hurdle for bulls would be around $3.250.
Bearish Scenario:
Failure to stay above $2.880 could see the price sliding toward:
$2.810, followed by $2.750, a key support zone where bulls may step in again.
Technical Indicators:
MACD (Hourly): Bearish momentum increasing RSI (Hourly): Below 50, showing weakening strength
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