🚀 XRP Shows Its Strength — Bulls Aim for Higher Levels
Above $2.950, XRP is rising. The price is stabilizing and could climb above $3.120.
XRP is stabilizing above $2.920 and $2.950.
The price is above $2.950 and the 100-hour SMA.
The hourly XRP/USD chart shows an upward channel with resistance at $3.120.
The pair could increase if it remains above $2.950.
The Price of XRP Could Increase
Unlike Bitcoin and Ethereum, XRP remained positive after closing above $2.850. The price has broken through the $2.920 and $3.00 barriers.
However, bears were active near $3.120. A peak was established at $3.1260, and the price is consolidating its gains below the 23.6% retracement line of the last bullish advance from the low of $2.781 to the high of $3.126.
The price is above $2.920 and the 100-hour SMA. The price may encounter resistance at $3.065 to the upside. Near $3.120 is the first major resistance. On the hourly XRP/USD chart, an upward channel with resistance around $3.120 is formed.
A clear break above $3.120 could push the price above $3.150. Further increases could bring prices near the $3.20 barrier. Bulls may face a tough test at $3.250.
Another Drop?
If XRP fails to break through $3.120, it could drop again. Around $2.990 is the first support to the downside. Near $2.950 is the next significant support.
If the price breaks down and closes below $2.950, it could drop below the $2.920 support and the 61.8% retracement level of the current bullish advance from the low of $2.781 to the high of $3.126. A bearish momentum could occur below $2.8620, the next significant support.
Technical Indicators
Hourly MACD - The MACD of XRP/USD is rising in the positive zone.
The hourly RSI of XRP/USD is above 50.
Major Support Levels: $2.990, $2.920.
Major resistance levels: $3.120, $3.150.
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