Reason to trust

How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
XRP price started a decent increase above $3.00 zone. The price is now facing resistance at $3.10 and might correct some gains in the near term.
- XRP price is attempting to start a fresh increase above the $3.00 zone.
- The price is now trading above $2.980 and the 100-hourly Simple Moving Average.
- There was a break below a bullish trend line with support at $3.065 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could start another increase if it stays above the $2.920 zone.
XRP Price Faces Resistance
XRP price started a fresh increase above the $2.820 zone, beating Bitcoin and Ethereum. The price was able to surpass the $2.920 and $2.950 resistance levels.
The price even cleared the $3.00 resistance level. Finally, the bears appeared near the $3.10 zone. A high was formed at $3.106 and the price is now correcting gains. There was a break below a bullish trend line with support at $3.065 on the hourly chart of the XRP/USD pair.
The price is now trading above $3.00 and the 100-hourly Simple Moving Average. It is also above the 23.6% Fib retracement level of the upward move from the $2.730 swing low to the $3.106 high.

On the upside, the price might face resistance near the $3.10 level. The first major resistance is near the $3.120 level. A clear move above the $3.120 resistance might send the price toward the $3.150 resistance. Any more gains might send the price toward the $3.20 resistance or even $3.2120 in the near term. The next major hurdle for the bulls might be near the $3.250 zone.
Another Drop?
If XRP fails to clear the $3.10 resistance zone, it could start another decline. Initial support on the downside is near the $3.00 level. The next major support is near the $2.950 level.
If there is a downside break and a close below the $2.950 level, the price might continue to decline toward the $2.920 support and the 50% Fib retracement level of the upward move from the $2.730 swing low to the $3.106 high. The next major support sits near the $2.880 zone where the bulls might take a stand.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $3.00 and $2.920.
Major Resistance Levels – $3.10 and $3.120.