Ripple Pulls Back 🌊 – Can Bulls Defend $3 and Bounce? 📈🔥
Muhammad Sheheryar Jamil
Updated at: 3 hours ago
{"content":"Ripple Pulls Back 🌊 – Can Bulls Defend $3 and Bounce? 📈🔥
XRP fell from $3.180 barrier. Price is stabilizing and may rise again if it breaks $3.050.
After falling below $3.180, XRP is consolidating losses.
The price is below $3.050 and the 100-hour SMA.
The hourly XRP/USD chart shows a negative trend line with resistance at $3.020.
If it breaks $3.050, the pair may rise again.
Price Corrects Gains
XRP, like Bitcoin and Ethereum, corrected below $3.120. Price fell below $3.050 into a short-term bearish zone.
Price fell below the $3.00 pivot and 100-hourly SMA. After a low of $2.957, the price is consolidating losses. The $3.186 swing high to $2.957 low downward move was just over the 23.6% Fib retracement line.
The price is below $3.050 and the 100-hour SMA. On the hourly XRP/USD chart, a negative trend line with resistance around $3.020 is formed.
If bulls hold $2.950, price may rise again. Price may find resistance at $3.020 on the upside. At $3.050, serious resistance begins. A clean break over $3.050 might push the price above $3.120. More advances might push pricing toward $3.180 barrier. The bulls may face a severe test at $3.250.
More drawbacks?
XRP may fall if it fails to break $3.020. Around $2.950 is first downward support. Near $2.920 is the next important support.
A downward break and closing below $2.920 might push the price near $2.880. Bearish momentum may occur below $2.840, the next key support.
Tech Indicators
Hourly MACD on XRP/USD is falling in the negative zone.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $2.950, $2.920.
$3.020–$3.050 are major resistance levels.
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