XRP Price Struggles Below $2.950 as Bearish Trend Continues
XRP is showing bearish trends, trading below the $2.950 resistance level and struggling to recover from a recent decline.
- XRP is currently below the $2.950 and $2.920 levels.
- The price has fallen below the 100-hourly Simple Moving Average.
- A bearish trend line is forming with resistance at $2.910 on the hourly chart.
- The price could continue to decline if it remains under the $3.00 zone.
XRP Price Analysis
After closing below the $3.00 mark, XRP extended its losses, trading below the $2.920 support zone. Key points include:
- The price tested the $2.820 support zone, forming a low at this level.
- Attempts at recovery have seen the price rise above $2.90.
- Resistance is expected near the $2.90 level and the bearish trend line at $2.910.
- Major resistance is at $2.950, with a clear move above this point potentially leading toward $3.00 and then $3.120.
- If XRP fails to break the $2.90 resistance, initial support is near $2.820, followed by $2.80.
- A close below $2.80 could lead to further declines towards $2.7650 and then $2.750.
Technical Indicators
- MACD shows increasing bearish momentum.
- RSI is currently below the 50 level.
- Major support levels: $2.820 and $2.7650.
- Major resistance levels: $2.90 and $2.950.