XRP price is struggling to erase the $ 3,080 resistance zone. The price now drops and can increase losses if it drops below $ 2,920.
- XRP price corrects the profit of the $ 3,080 resistance.
- The price is now traded near $ 2,9650 and the 100-hour simple advancing average.
- There is an important bearish trend line that forms with resistance to $ 3,020 on the hour table of the XRP/USD pair (data source of Kraken).
- The couple can continue to fall if it remains below $ 3,050 zone.
XRP price is confronted with obstacles
XRP price started a narrow correction from $ 3,0850, such as Bitcoin and Ethereum. The price traded under the levels of $ 3,0650 and $ 3,050.
The bears could push the price under $ 2,980 and the 100-hour simple advancing average. In addition, there was a peak below the 50% FIB retraction level of the upward movement of the $ 2,824 swing low to the $ 3,080 high.
The price is now traded under $ 2,9650 and the 100-Urly simple advancing average. There is also an important bearish trend line that forms with resistance at $ 3,020 on the hour table of the XRP/USD pair.
If the bulls protect the support of $ 2,920, the price could try a different increase. At the top the price can resist the level of $ 3.00 face. The first major resistance is near the level of $ 3,020. A clear movement above the $ 3,020 resistance can send the price to the $ 3,080 resistance. More profits can send the price to the $ 3,120 resistance. The next big obstacle for the bulls is perhaps almost $ 3,150.
More losses?
If XRP did not know the $ 3,020 resistance zone, it can continue to move. The first support for the disadvantage is close to the $ 2,920 level or the 61.8% FIB retracement level of the upward movement of the $ 2,824 Swing Low to $ 3.080 High. The next major support is near the level of $ 2,8850.
If there is a narrow break and an end to the level of $ 2,8850, the price can continue to fall to $ 2.80. The next major support is near the $ 2,780 zone, including the Price Bearish Momentum.
Technical indicators
MACD per hour – The MacD for XRP/USD now wins pace in the Bearish zone.
Picly RSI (relative strength -index) -The RSI for XRP/USD is now below the 50 -level level.
Important support levels – $ 2,920 and $ 2,840.
Important resistance levels – $ 3,020 and $ 3,080.