🏹 XRP at Support Zone — Could Bulls Launch a Comeback Rally?
XRP fell over 6% from $3.350 barrier. The price is maintaining $3.020 and may rise again.
XRP is trying to rise from $3.020.
The price is below $3.20 and the 100-hour SMA.
XRP/USD broke below a crucial bullish trend line with support around $3.280 on the hourly chart.
If it breaks $3.150, the pair may become bullish.
XRP Drops For Support
XRP tried to rise over $3.30 like Bitcoin and Ethereum. Price touched $3.35 but failed to rise. A negative decline began once the price reached $3.35.
XRP/USD broke below a crucial bullish trend line with support around $3.280 on the hourly chart. Both dropped below $3.250 and $3.150 support. The $3.020 support zone was tested last. The price set a low at $3.031 and is presently rebounding approaching the 23.6% Fib retracement level of the decline from the $3.350 swing high.
The price is below $3.120 and the 100-hour SMA. Price may find resistance at $3.10 on the upside. Around $3.150 is the first big resistance.
A clean break over $3.150 might push the price above $3.20. More advances might push the price toward $3.250 or $3.2650. The bulls may face a severe test at $3.30.
Another Fall?
XRP may fall if it fails to break $3.150 barrier. Around $3.050 is first downward support. Near $3.020 is the next important support.
If the price breaks down and closes below $3.020, it may fall near $3.00. A bigger drop might occur below $2.880, the next significant support.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $3.050, $3.020.
Key Resistance Levels: $3.150, $3.20.
