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XRP Price Attempts Recovery – Can Market Push Higher Despite Strong Barriers?

XRP worth is trying a restoration wave above the $2.820 zone. The worth now faces a few key hurdles close to $2.880 and $2.920.

  • XRP worth is slowly transferring greater above the $2.80 assist zone.
  • The worth is now buying and selling above $2.80 and the 100-hourly Simple Moving Average.
  • There is a connecting bullish pattern line forming with assist at $2.80 on the hourly chart of the XRP/USD pair (information supply from Kraken).
  • The pair might proceed to maneuver up if it settles above $2.920.

XRP Price Dips Eyes Upside Break

XRP worth discovered assist close to $2.70 and just lately began a restoration wave, like Bitcoin and Ethereum. The worth was capable of surpass the $2.780 and $2.80 resistance ranges.

There was a transparent transfer above the 50% Fib retracement stage of the downward wave from the $2.995 swing high to the $2.70 low. However, the worth is now going through hurdles close to $2.88. Besides, there’s a connecting bullish pattern line forming with assist at $2.80 on the hourly chart of the XRP/USD pair.

The worth is now buying and selling above $2.820 and the 100-hourly Simple Moving Average. On the upside, the worth would possibly face resistance close to the $2.88 stage or the 61.8% Fib retracement stage of the downward wave from the $2.995 swing high to the $2.70 low.

The first main resistance is close to the $2.920 stage. A transparent transfer above the $2.920 resistance would possibly ship the worth towards the $2.9880 resistance. Any extra positive factors would possibly ship the worth towards the $3.020 resistance. The subsequent main hurdle for the bulls is perhaps close to $3.050.

Another Decline?

If XRP fails to clear the $2.880 resistance zone, it might begin a recent decline. Initial assist on the draw back is close to the $2.820 stage. The subsequent main assist is close to the $2.80 stage and the pattern line.

If there’s a draw back break and a detailed under the $2.80 stage, the worth would possibly proceed to say no towards $2.720. The subsequent main assist sits close to the $2.70 zone, under which the worth might achieve bearish momentum.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 stage.

Major Support Levels – $2.80 and $2.720.

Major Resistance Levels – $2.880 and $2.920.

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