XRP Price Remains Weak Below $3.10 as Bearish Trend Persists

XRP price is experiencing bearish momentum below the $3.10 resistance level, with ongoing struggles around $3.050.

XRP is trading below $3.150 and $3.10.
Current trading is below $3.10 and the 100-hourly Simple Moving Average.
A bearish trend line is forming with resistance at $3.070 on the hourly chart.
Potential bullish momentum could return if it clears the $3.120 zone.

XRP Price Movement

XRP continued to decline after closing below $3.20, also reflecting trends in Bitcoin and Ethereum. The price fell below the $3.10 support and tested the $2.950 zone, reaching a low of $2.941 before attempting a recovery above the 50% Fib retracement level from the recent downward move.

Bears are actively resisting near $3.10, coinciding with the 76.4% Fib retracement level. Currently, XRP is trading below $3.050 and the 100-hourly SMA, facing resistance near $3.0450 and major resistance at $3.070.

A clear move above $3.070 could push the price towards $3.120 and potentially $3.150 or higher levels. Major resistance lies near $3.20.

Potential Decline

If XRP does not break through the $3.070 resistance, it may begin a fresh decline. Initial support is near $2.9420, with further support at $2.920.

A downward close below $2.920 may lead to declines toward $2.850, with additional support at the $2.80 zone indicating possible larger losses.

Technical Indicators:

Hourly MACD indicates increasing bearish momentum.
Hourly RSI is below the 50 level.
Major Support Levels: $2.940 and $2.880.
Major Resistance Levels: $3.070 and $3.10.