XRP Price Consolidates Above $2.950, Eyes Move Toward $3.120

XRP is currently consolidating positively above the $2.950 level, potentially targeting a move over $3.120.

Price is above $2.920 and $2.950.
Trading above the 100-hourly Simple Moving Average.
A rising channel is forming with resistance at $3.120 on the hourly chart.
Continued upward movement is expected if it stays above $2.950.

XRP Price Outlook

XRP has remained above the $2.850 zone, contrasting with Bitcoin and Ethereum. It surpassed the $2.920 and $3.00 resistance levels.

The price peaked at $3.1260 but is currently consolidating below the 23.6% Fib retracement level from a recent low of $2.781.

Resistance may arise near $3.065, with major resistance at $3.120. A breakout above this could lead to targets of $3.150 and possibly $3.20, with a further hurdle at $3.250.

Risk of Decline

If XRP fails to break the $3.120 resistance, a decline may occur. Initial support is near $2.990, followed by $2.950.

A drop below $2.950 could lead to further declines towards $2.920 and the 61.8% Fib retracement level, with significant support at $2.8620.

Technical Indicators

Hourly MACD shows bullish momentum.
RSI is above 50.
Support Levels: $2.990 and $2.920.
Resistance Levels: $3.120 and $3.150.