XRP Price Corrects Below $3.15, Eyes Support at $3.00

XRP price is currently correcting from the $3.25 level and might find support near $3.00.

The price has started a downside correction from $3.250.
Current trading is below $3.150 and the 100-hourly Simple Moving Average.
A bearish trend line is forming with resistance at $3.10 on the hourly chart.
If XRP remains above $3.00, it may begin to rise again.

XRP Price Movements

After reaching a high of $3.25, XRP corrected its gains to a low of $3.035. It is now consolidating below the 23.6% Fib retracement level of the downward move from $3.285 to $3.035.

Resistance levels are established at:

$3.10 due to a bearish trend line
$3.160 (50% Fib retracement)
$3.20

A break above $3.20 could push the price toward $3.250, with potential gains towards $3.350 or $3.3650. The next major hurdle for bulls is $3.450.

Potential Downside Risks

If XRP cannot surpass the $3.10 resistance, it may decline further.

Initial support is near $3.050.
Major support is at $3.00; a close below this level could lead to a drop towards $2.880 and then $2.750.

Technical indicators show that:

Hourly MACD is gaining momentum in the bearish zone.
RSI for XRP/USD is below the 50 level.