XRP Reclaims $3 💎 – Can Bulls Turn Momentum Into a Breakout
koinmilyoner
Updated at: 3 hours ago
{"content":"XRP Reclaims $3 💎 – Can Bulls Turn Momentum Into a Breakout?
A negative drop began below $3.050 barrier for XRP. The price is improving but faces challenges at $3.080.
After falling below $3.120, XRP is consolidating losses.
The price is below $3.080 and the 100-hour SMA.
XRP/USD broke above a negative trend line with resistance at $3.00 on the hourly chart.
If it breaks $3.080, the pair may rise again.
XRP Tries Recovery
Like Bitcoin and Ethereum, XRP fell below $3.120. Price fell below $3.020 into a short-term bearish zone.
Price fell below the $3.00 pivot and 100-hourly SMA. A rebound wave began once the price hit $2.957. The $3.186 swing high to $2.957 low downward move was above the 23.6% Fib retracement line.
Additionally, the hourly XRP/USD chart broke above a negative trend line with resistance at $3.00. The price is below $3.060 and the 100-hour SMA.
If bulls hold $3.00, price may rise again. Price may find resistance at $3.060 on the upside. The 50% Fib retracement level of the bearish move from the $3.186 swing high to the $2.957 low is $3.080, the first significant resistance.
A clean break over $3.080 might push the price above $3.120. More advances might push pricing toward $3.180 barrier. The bulls may face a severe test at $3.250.
Another Fall?
XRP may fall if it fails to break $3.060. The downside has initial support at $3.00. Near $2.950 is the next important support.
A bearish break and closing below $2.950 might push the price near $2.880. Bearish momentum may occur below $2.840, the next key support.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $3.00, $2.950.
Key Resistance Levels: $3.080, $3.120.
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