The XRP price fell sharply and tested the $ 2,650 support zone. The price now corrects profits and shows positive drawing above $ 3.00.
- XRP price started a new fall in the $ 3.00 zone.
- The price is now traded under $ 3,120 and the 100-hour simple advancing average.
- There was a break above a connecting bearish trend line with resistance at $ 2,950 on the hourly table of the XRP/USD pair (data source of Kraken).
- The couple may have trouble eradicating the resistance levels of $ 3.10 and $ 3.12.
XRP price drops further before they have rebound
XRP price struggled to stay higher above $ 3,050 resistance and responded to the disadvantage, such as Bitcoin and Ethereum. The price fell under the support levels of $ 3.00 and $ 2.80.
The couple were even under the support of $ 2,720. A layer was formed at $ 2,6562 and the price now corrects losses. There was a strong increase above the levels of $ 2.80 and $ 2.85. The price knew the FIB racement level of 50% of the downward movement of the $ 3,207 Swing high to $ 2,6562 low.
There was a break over a connecting bearish trend line with resistance at $ 2,950 on the hourly table of the XRP/USD pair. The price is now traded under $ 3,120 and the 100-hour simple advancing average.
At the top, the price facial resistance near the level of $ 3.10 or the 76.4% FIB retracement level of the downward movement of the $ 3,207 swing can be high to $ 2,6562 low. The first major resistance is near the level of $ 3,120. The next resistance is $ 3,150.
A clear movement above the $ 3,150 resistance can send the price to $ 3.20 resistance. More profits can send the price to the resistance of $ 3,250 or even $ 3,350 in the short term. The next big obstacle for the bulls is perhaps $ 3,450.
Another decline?
If XRP did not know the $ 3.10 resistance zone, it can start a new decline. The first support on the disadvantage is near the level of $ 3.00. The next major support is near the level of $ 2,950.
If there is a downward break and an end of the level of $ 2,950, the price can continue to fall in the direction of the $ 2,880 support. The next major support is near the $ 2,750 zone.
Technical indicators
MACD per hour – The MACD for XRP/USD now wins pace in the bullish zone.
Picly RSI (relative strength -index) -The RSI for XRP/USD is now above 50 -level.
Important support levels – $ 3.00 and $ 2,950.
Important resistance levels – $ 3,100 and $ 3,120.
