XRP Price Recovers Above $2.850, Faces Resistance Near $2.920
XRP Price Recovery Attempts
- XRP is moving above the $2.850 support zone.
- The price trades above $2.850 and the 100-hourly Simple Moving Average.
- A bullish trend line with support at $2.8320 is forming on the hourly chart.
- Resistance levels are at $2.920 and $2.950.
Current Analysis
- XRP started to recover after finding support above $2.720 and $2.770.
- The price moved past the 61.8% Fib retracement from $2.995 high to $2.70 low.
- Currently, XRP faces resistance near $2.925 (76.4% Fib retracement level).
Potential Movements
- If XRP breaks above $2.950, it may target $3.00 and then $3.050.
- A major hurdle for further gains is around $3.120.
Risk of Decline
- If XRP fails to surpass $2.920, a decline could begin.
- Initial support is located at $2.850, followed by $2.8320.
- Breaking below $2.8320 might lead to a drop towards $2.770 and potentially $2.650.
Technical Indicators
- Hourly MACD: Gaining pace in bullish territory.
- Hourly RSI: Above the 50 level.