🐂 XRP Stays Strong — Will Bulls Take It to the Next Level?
ApeToZero
Updated at: 9 hours ago
{"content":"🐂 XRP Stays Strong — Will Bulls Take It to the Next Level?
Price of XRP is above $2.920 support. The price is stabilizing and may shortly break $3.050 resistance.
Below $3.080, XRP is falling.
The 100-hourly Simple Moving Average and $2.980 are nearby.
XRP/USD broke below a significant contracting triangle with support around $3.020 on the hourly chart.
The pair may fall if it lingers below $3.10.
The XRP Price Consolidates
Like Bitcoin and Ethereum, XRP fell from $3.0850. Price was below $3.050 and $3.000.
The price fell below the 23.6% Fib retracement level of the $2.824 swing low to $3.080 high. Additionally, the hourly XRP/USD chart broke below a crucial contracting triangle with support at $3.020.
Price support came around $2.950. Bulls seem to be guarding the 50% Fib retracement level of the rise from $2.824 swing low to $3.080 high. The 100-hourly Simple Moving Average and $2.980 are nearby. Price may rise again if bulls persist.
Price may find resistance at $3.020 on the upside. At $3.080, serious resistance begins. A clean break over $3.080 might push the price above $3.120. More advances might push pricing toward $3.150 barrier. The bulls may face a severe test at $3.20.
Another Fall?
If XRP fails to break $3.080, it might fall again. Around $2.950 is first downward support. Near $2.9220 is the next important support.
If the price breaks down and closes below $2.9220, it may fall to $2.840. Bearish momentum may develop below $2.780, the next significant support.
Tech Indicators
Hourly MACD on XRP/USD is falling in the negative zone.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $2.920, $2.840.
Key Resistance Levels: $3.080, $3.120.
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