XRP Price Consolidates Gains Above $2.950, Eyes Move Toward $3.020
XRP is currently trading above $2.950, showing potential for further gains after previously surpassing the $3.00 mark.
- Price faces resistance near $3.050.
- Trading above $2.950 and the 100-hourly Simple Moving Average.
- Support identified at $2.980 within a contracting triangle pattern on the hourly chart.
- Staying above $2.9150 may allow for continued upward movement.
XRP Price Outlook
The price reached a high of $3.0365 before consolidating. A minor decline tested the 50% Fibonacci retracement level from the recent low of $2.795 to the high of $3.036.
If support at $2.950 holds, an attempt to breach $3.020 could occur. Key resistance levels are at $3.050 and $3.120, with potential further resistance around $3.150 and $3.20.
Potential Downsides
A failure to break the $3.050 barrier may lead to declines, with initial support near $2.980 and significant support at $2.9150. A close below $2.9150 could push the price toward $2.880, with further support at $2.850.
Technical indicators show:
- Hourly MACD is gaining momentum in the bullish zone.
- Hourly RSI is above 50.
- Major support levels are at $2.980 and $2.9150.
- Major resistance levels are at $3.050 and $3.120.