XRP Price Surges Above $2.950, Targets Resistance at $3.150
XRP price has shown a robust increase, surpassing the $2.950 mark and currently consolidating gains. Key points include:
- Price correction initiated from the $3.220 area.
- Current trading is above $3.020 and the 100-hourly Simple Moving Average.
- A bullish flag pattern is forming with resistance at $3.10 on the hourly chart.
- A potential fresh increase may occur if the price clears the $3.150 resistance.
XRP Price Overview
XRP has outperformed Bitcoin and Ethereum, rallying past multiple resistance levels including $2.95 and $3.00. The peak reached $3.214 before a minor correction below $3.12, dipping under the 23.6% Fib retracement level of its upward move from $2.6562 to $3.214.
The price remains above $3.020, supported by a bullish flag pattern. Resistance levels include:
- $3.10
- $3.150
- $3.20
- Potential targets include $3.250, $3.350, and $3.420.
- Next major hurdle at $3.50.
Downside Risks
If XRP does not break the $3.10 resistance, it may face another decline. Support levels include:
- Initial support at $3.020
- Next support near $2.950, corresponding to the 50% Fib retracement level.
- Further declines could lead to $2.850 and then $2.70.
Technical indicators show:
- Hourly MACD gaining momentum in the bullish zone.
- RSI above 50.
- Major support levels at $3.00 and $2.950.
- Major resistance levels at $3.10 and $3.150.
