XRP Price Rallies Over 25% to $2.65 Amid Resistance at $2.820

XRP price has recovered over 25%, currently trading above $2.65 and facing resistance near $2.820.

Price initiated an upward move above $2.50.
Currently below $2.80 and the 100-hourly Simple Moving Average.
Break above bearish trend line resistance at $2.420 on XRP/USD hourly chart.
Potential for further increases if it surpasses the $2.820 resistance.

XRP Price Recovery Details

XRP experienced a decline below $2.850, dropping over 25% to test the $1.75 level. A recovery followed, pushing the price above $2.20 and $2.50, with a significant move past the 61.8% Fib retracement level from $3.155 to $1.750.

The price faces resistance near $2.80 and critical levels at $2.820 and $2.940. A clear breakout above $2.940 could lead towards $3.00 and potentially $3.120.

Possible Decline

If XRP does not break above $2.820, it may decline, with initial support at $2.620 and further support near $2.50. A drop below $2.50 could lead to testing $2.450 and $2.350 levels.

Technical Indicators:

Hourly MACD indicates bullish momentum.
RSI is above the 50 level.
Major support levels are $2.620 and $2.450.
Major resistance levels are $2.80 and $2.820.