XRP Price Declines Below $3.00 Support Zone

XRP has started a decline below the $3.00 support zone, currently showing bearish signs:

Trading below $2.950 and the 100-hourly Simple Moving Average.
A bearish trend line is forming with resistance at $2.980.
Potential for further decline if it dips below $2.880.

XRP Price Movement

After failing to maintain gains above $3.20, XRP dropped below $3.050 and $3.020. The bears pushed the price under $3.00, reaching a low near $2.880. The price is consolidating losses well below the 23.6% Fib retracement level from $3.138 to $2.880.

If the bulls defend the $2.880 support, a rebound attempt could occur. Resistance levels are at $2.950 and $3.00, with potential targets at $3.080 and $3.120 if surpassed.

XRP Price

Potential Further Decline

If XRP can't break the $3.00 resistance, further downside is possible:

Initial support at $2.880, then $2.80.
A break below $2.80 may lead to $2.740 and potentially $2.650.

Technical Indicators:

Hourly MACD: Gaining pace in the bearish zone.
Hourly RSI: Below the 50 level.
Major Support Levels: $2.880 and $2.80.
Major Resistance Levels: $2.950 and $3.00.