XRP price movement indicates strength, with greater bullish opportunities ahead 🚀
XRP price movement shows positive indicators above the $2.950 level. The price is showing a consolidation phase and may target a new move above the $3.120 level.
Key technical points:
XRP price is holding above the $2.920 and $2.950 levels.
Current trading is above $2.950 and the 100-hour simple moving average.
An ascending channel is forming with resistance at $3.120 on the hourly chart.
The bullish movement is likely to continue if the price remains above the $2.950 level.
Potential bullish targets:
Breaking through the $3.120 resistance could push the price towards $3.150.
Additional gains could reach $3.20, with the next major resistance at $3.250.
Potential bearish scenario:
If XRP fails to break through the $3.120 resistance, a new decline may begin.
First support at $2.990, and key support at $2.950.
Breaking below the $2.950 level could lead to a further decline towards $2.920, then $2.862, which could give the market greater bearish momentum.
Technical indicators:
MACD Indicator: gaining strength in the bullish zone.
RSI Indicator: above the 50 level, indicating positive momentum.
Key support levels: $2.990 and $2.920.
Key resistance levels: $3.120 and $3.150.