XRP Price Consolidates Near $3.10 After Recent Highs
XRP is currently in a consolidation phase after reaching the $3.20 resistance zone.
- Price corrected from the $3.220 level.
- It is trading above $3.050 and the 100-hourly Simple Moving Average.
- A bullish flag pattern was confirmed, breaking above resistance at $3.10.
- A fresh increase may occur if the price surpasses the $3.20 resistance.
XRP Price Outlook
XRP has increased above the $2.950 mark, outperforming Bitcoin and Ethereum. Key movements include:
- High formed at $3.214 before recent corrections.
- Support near $3.00 helped push prices higher.
- Current price above $3.050 with potential resistance at $3.150 and $3.20.
- A clear move above $3.220 could lead to targets of $3.320 and $3.380.
Potential Decline Risks
If XRP does not breach the $3.150 resistance, it may decline:
- Initial support at $3.00 and major support at $2.950.
- A close below $2.950 could lead to further declines towards $2.860 or $2.750.
Technical Indicators
- Hourly MACD is losing momentum in the bullish zone.
- RSI is currently below the 50 level.
- Major support levels are at $3.00 and $2.950.
- Major resistance levels are at $3.150 and $3.20.