XRP Price Surges Over 15% as It Tests $3.40 Resistance Level
XRP price shows signs of recovery after surpassing the $2.750 and $2.880 resistance levels.
- The price increased over 15%, approaching the $3.40 zone.
- Currently trading below $3.250 and the 100-hourly Simple Moving Average.
- A bearish trend line is forming with resistance at $3.20.
- Support is established around $2.880; a drop below this may lead to further declines.
Price Movements
Recent movements include:
- Testing the $3.40 zone before a correction, with a low formed at $2.81.
- Cleared the 50% Fib retracement level from the recent swing high ($3.23) to low ($2.81).
- Resistance levels identified at $3.130, $3.20, and $3.230.
- A breakthrough above $3.230 could push prices towards $3.320 or $3.40.
Potential Risks
If XRP does not breach the $3.20 resistance, potential declines could bring the price to:
- Initial support near $3.00.
- Next major support at $2.88.
- Further declines possible toward $2.750 and $2.650.
Technical Indicators
- Hourly MACD indicates bullish momentum.
- RSI for XRP/USD is currently below 50.
Major support levels are at $3.00 and $2.880, with major resistances at $3.130 and $3.20.