XRP Price Faces Resistance Near $2.720 After Recent Gains

XRP price is correcting from the $2.750 resistance but shows potential for upward movement.

XRP started an increase above $2.620.
Current trading above $2.620 and the 100-hourly Simple Moving Average.
A bearish trend line is forming with resistance at $2.720 on the hourly chart.
A move above $2.720 could initiate a fresh increase.

XRP Price Resistance Overview

XRP remains supported above $2.550 and started increasing after surpassing $2.620, outperforming Bitcoin and Ethereum.

The price cleared $2.650 and $2.680, moving above the 61.8% Fib retracement level of the downward wave from $2.8320 to $2.470. However, resistance was encountered near $2.750.

The price is currently below $2.70 but trades above $2.720 and the 100-hourly Simple Moving Average.

Resistance levels include:

$2.750 as the first major resistance
$2.80 as the next resistance
$2.850 and potentially $2.920 in case of further gains
$3.00 as the next significant hurdle

Potential Decline

If XRP does not clear the $2.720 resistance, it may decline, with support near:

$2.650
$2.60
A drop below $2.60 could lead to further declines toward $2.550 and then $2.50

Technical Indicators indicate:

MACD losing momentum in the bullish zone
RSI below the 50 level