XRP Price Dips Below Key Support Level of $3.00

XRP price is currently struggling to maintain levels above $3.20, having dipped below $3.00 and attempting a recovery. Key points include:

The price began a correction from the $3.20 zone.
XRP is trading below $3.050 and the 100-hourly Simple Moving Average.
A break occurred below a bullish trend line with support at $3.120.
Potential for a fresh increase exists if the price remains above $3.00 support.

Current Status of XRP Price

XRP price has reacted similarly to Bitcoin and Ethereum, dropping below critical supports of $3.15 and $3.12, reaching a low of $2.940. The price is now consolidating, trading below the 100-hourly SMA.

Resistance levels are identified at:

$3.050
$3.150
$3.20

A move above $3.20 could lead to further increases towards $3.250 and potentially $3.3650.

Possible Further Declines

If XRP cannot surpass the $3.050 resistance, it may face additional losses. Support levels include:

$3.00
$2.950
$2.880
$2.750

Technical indicators show bearish momentum, with MACD gaining strength in the bearish zone and RSI below 50.