XRP Price Trapped Below Resistance Bulls Running Out of Steam?

News

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

XRP price is struggling to continue higher above the $3.020 zone. The price is consolidating and might decline below the $2.920 support.

XRP price failed to continue higher above the $3.10 resistance zone, like Bitcoin and Ethereum. The price formed a short-term top and started a fresh decline below the $3.020 level.

The price dipped below the $3.00 level. There was a move below $2.950 and the price tested the 50% Fib retracement level of the upward move from the $2.730 swing low to the $3.106 high. However, the bulls were active near the $2.920 zone.

The price is now trading near $2.980 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.00 level. There is also a bearish trend line forming with resistance at $3.020 on the hourly chart of the XRP/USD pair.

The first major resistance is near the $3.10 level. A clear move above the $3.10 resistance might send the price toward the $3.120 resistance. Any more gains might send the price toward the $3.180 resistance or even $3.20 in the near term. The next major hurdle for the bulls might be near the $3.250 zone.

If XRP fails to clear the $3.020 resistance zone, it could start another decline. Initial support on the downside is near the $2.920 level. The next major support is near the $2.880 level or the 61.8% Fib retracement level of the upward move from the $2.730 swing low to the $3.106 high.

If there is a downside break and a close below the $2.880 level, the price might continue to decline toward the $2.810 support. The next major support sits near the $2.750 zone where the bulls might take a stand.

Technical Indicators

Hourly MACD The MACD for XRP/USD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) The RSI for XRP/USD is now below the 50 level.

Major Support Levels $2.920 and $2.880.

Major Resistance Levels $3.020 and $3.10.

Articles You May Like

XRP Blows Cold: Price Crash To $2.15 Still Possible If Buyers Falter
XRP Price May Be ‘Controlled By This Market, Says Analyst
Over 56 Million Whale Trades on Binance, Is Bitcoin Headed for Another Correction?
Bitcoin Analyst Builds BTC’s Bullish Case After Binance Volume Spike, Fed Liquidity Surge
Bitcoin Boom Powers Record Revenue at Strategy and Tether in Q2 2025