Ripple is currently trading near $3.01 after a volatile daily movement between $3.01 – $3.08. Despite a slight decline of nearly -1%, the price is still holding onto the $3 level, which represents a major psychological support right now.
Support and resistance levels:
First support: At $3.00, a pivotal psychological level that, if broken, may open the door for a wider drop.
Second support: Near $2.90, representing the bottom of the last range; its loss increases selling pressure.
First resistance: Between $3.20 – $3.30; breaking it on the 4-hour frame gives a bullish momentum signal.
Second resistance: At $3.80, a major level on the larger timeframe; surpassing it may lead to an extended wave.
Technical indicators:
RSI (four hours): Moving near the 50 level, reflecting relative neutrality with a slight upward bias.
MACD: The lines are close without divergence, indicating a lack of strong direction so far.
Moving averages: The price maintains its coherence around its short-term averages, supporting the idea of cohesion before any breakout.
Forecasts:
If it holds above $3, the positive outlook remains with targets at $3.30 – $3.80.
If $2.90 is broken, the price may enter a deeper correction wave towards $2.80.
Recommendation🔥🤑
The closest scenario now is to monitor the $3.00 – $3.05 area as a suitable entry point with a stop loss below $2.80.
First target $3.30
Second target $3.60.
Third target $3.80 if momentum continues.
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