⏏️◀️XRP price crashes below $3, 🔻 will the pain increase for the bulls? 🔺📉
◀️The XRP price remained in a bearish zone after closing below the $3.120 level, 🔺similar to Bitcoin and Ethereum. 🔻 The price continued its losses, 🔻 trading below the support level of $3.00. 🌐📊
◀️The price dropped below $2.920. Finally, it tested the support area at $2.850 🔻. A bottom is formed at $2.850, 🔻 and the price is now trying to reinforce its losses below the 23.6% Fibonacci retracement level for the downward movement from the swing high of $3.095 to the low of $2.850. 📊🔻
◀️The price is now trading below $3.00 and its simple moving average of 100 hours. 🔺 On the positive side, 🔻 the price may face resistance at the $2.90 level 🔻. The first main resistance is at the $2.920 level. 🏁📉
◀️A clear breakout above the $2.920 resistance level could push the price toward the $3.00 resistance level. 🔻 A downward trend line is forming with a resistance level at $3.00 on the hourly chart for the XRP/USD pair. 🔻 It is close to the 50% Fibonacci retracement level for the downward movement from the swing high of $3.095 to the low of $2.850. 📊🏁
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