The XRP price had difficulty staying above the level of $ 3.30. The price now corrects the profits and could find bids near the level of $ 3.00.
- The XRP price started a downward correction from the $ 3.30 zone.
- The price now acts below $ 3.20 and the 100-hour Simple Moving Average.
- There was a breakthrough under a connecting bullish trend line with support at $ 3,1450 on the hour graph of the XRP/USD pair (data source of Kraken).
- The pair could start a new increase if it remains above $ 3.00 support.
XRP price is falling again
The XRP price managed to start a new increase from the $ 3,120 support zone, but the benefits were limited compared to Bitcoin. The price could exceed the level of $ 3,250 before the bears appeared.
A highlight was formed at $ 3,285 and the price recently started with a downward correction. There was a movement under the support of $ 3.20. The price fell below the 50% FIB racement level of the upward movement of the $ 3.012 Swing Low to $ 3.285 High.
In addition, there was a breakthrough under a connecting bullish trend line with support at $ 3,1450 on the hour graph of the XRP/USD pair. The price now acts below $ 3.20 and the 100-hour Simple Moving Average.
It now retains the 61.8% FIB racement level of the upward movement of the $ 3.012 Swing Low to $ 3,285 high. On the positive side, the price could experience resistance near the $ 3,150 level. The first major resistance is around the $ 3.20 level.
The next resistance is $ 3,250. A clear movement above the $ 3,250 resistance could send the price to the $ 3.30 resistance. Any further profits could send the price to the resistance of $ 3,4250 or even $ 3,450 in the short term. The next major obstacle for the bulls could be $ 3.50.
More losses?
If XRP fails to break through the $ 3.20 resistance zone, it can cause a new decrease. The initial downward support is close to the $ 3,120 level. The next major support is close to the $ 3.00 level.
If there is a downward breakthrough and a closure below the $ 3.00 level, the price could continue to fall towards $ 2,880 support. The next major support is near the $ 2,750 zone.
Technical indicators
MACD per hour – The MACD for XRP/USD is now gaining speed in the bearish zone.
RSI per hour (relative strength index) – The RSI for XRP/USD is now below the level of 50.
Important support levels – $ 3,120 and $ 3.00.
Important resistance levels – $ 3.20 and $ 3,250.