XRP Price Struggles Below $3.00 as Bearish Trend Persists
XRP is experiencing bearish trends, struggling to recover above key resistance levels.
- XRP price is declining below $3.00 and $2.950.
- Currently trading below $2.950 and the 100-hourly Simple Moving Average.
- A bearish trend line forms with resistance at $2.9650 on the hourly chart.
- Price may continue to decline if it remains under the $3.00 mark.
XRP Price Recovery Faces Hurdles
XRP remains bearish after closing below $3.050, following a similar trend to Bitcoin and Ethereum.
- Price fell below $2.90, testing support at $2.820.
- Recent correction pushed the price above $2.90, surpassing the 50% Fib retracement level of the drop from $3.095 to $2.820.
- Bears are active below the $3.00 level and the 61.8% Fib retracement level.
- Resistance is observed near the $2.950 and $2.9650 levels.
A move above $2.9650 could push the price towards $3.00 and potentially to $3.050. The next hurdle lies around $3.120.
Another Decline?
- If XRP fails to breach $2.9650, a fresh decline may begin.
- Initial support is around $2.90, with major support at $2.850.
- A drop below $2.850 could lead to further declines toward $2.820 and potentially to $2.780.
Technical Indicators
- Hourly MACD indicates increasing bearish momentum.
- Hourly RSI is currently below the 50 level.
- Major Support Levels: $2.90 and $2.850.
- Major Resistance Levels: $2.9650 and $3.00.