XRP Price Attempts Recovery Above $2.80 Resistance Level

XRP price is attempting to recover above the $2.720 zone, with potential for further gains if it surpasses the $2.880 resistance level.

XRP is trading above $2.80 and the 100-hourly Simple Moving Average.
A bullish trend line is forming with support at $2.825 on the hourly chart.
Price could rise if it remains above $2.780.

XRP Price Analysis

XRP has stayed above $2.70 and initiated a recovery, moving past the $2.75 and $2.80 levels. It also crossed the 23.6% Fib retracement level of its recent decline from $3.040 to $2.70.

Current resistance is near $2.880. If bulls maintain the $2.780 support, XRP may attempt further increases, facing resistance at $2.870 initially. The first major resistance is around $2.920, which aligns with the 61.8% Fib retracement level. A move above this could lead to targets of $2.980 and $3.00.

Potential Decline

If XRP fails to break the $2.920 resistance, it may continue to decline, with initial support at $2.820 and major support at $2.780. A close below $2.780 could drive the price down to $2.70 or lower, targeting the $2.650 zone.

Technical Indicators

MACD for XRP/USD is losing momentum in the bearish zone.
RSI is above 50.
Support Levels – $2.780 and $2.70.
Resistance Levels – $2.870 and $2.920.