XRP Price Faces Resistance Amid Recovery Efforts Below $3.080

XRP price is undergoing a correction after falling below the $3.120 resistance level. It is currently trading below $3.080 and the 100-hourly Simple Moving Average, facing resistance around the $3.080 zone.

The price dropped below $3.020, entering a short-term bearish zone.
Recently, it formed a low at $2.957 and began a recovery wave, breaking a bearish trend line with resistance at $3.00.
If the bulls defend the $3.00 support, an increase might occur, facing resistance at $3.060 and $3.080 levels.
A move above $3.080 could push the price toward $3.120 and possibly $3.250.

XRP Price

Potential for Another Decline

If XRP fails to surpass the $3.060 resistance, it may continue declining. Support levels are near $3.00 and $2.950. A break below $2.950 could lead to further decline towards $2.880 or even $2.840.

Technical Indicators:

Hourly MACD is losing pace in the bullish zone.
Hourly RSI is above the 50 level.
Key support levels: $3.00 and $2.950.
Key resistance levels: $3.080 and $3.120.