XRP Price Holds Ground, But Can Bulls Push Momentum Higher?

XRP price is holding above $2.920 support ￰0￱ price is now consolidating and might soon attempt a move above the $3.050 ￰1￱ price is showing bearish signs below the $3.080 ￰2￱ price is now trading near $2.980 and the 100-hourly Simple Moving ￰3￱ was a break below a key contracting triangle with support at $3.020 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to decline if it stays below the $3.10 ￰4￱ Price Starts Consolidation XRP price started a downside correction from $3.0850, like Bitcoin and ￰5￱ price traded below the $3.050 and $3.000 ￰6￱ price dipped below the 23.6% Fib retracement level of the upward move from the $2.824 swing low to the $3.080 high.

Besides, there was a break below a key contracting triangle with support at $3.020 on the hourly chart of the XRP/USD pair. However, the price found support near the $2.950 ￰7￱ seems like the bulls are protecting the 50% Fib retracement level of the upward move from the $2.824 swing low to the $3.080 ￰8￱ price is now trading near $2.980 and the 100-hourly Simple Moving ￰9￱ the bulls remain in action, the price could attempt another ￰10￱ the upside, the price might face resistance near the $3.020 ￰11￱ first major resistance is near the $3.080 level. A clear move above the $3.080 resistance might send the price toward the $3.120 ￰12￱ more gains might send the price toward the $3.150 ￰13￱ next major hurdle for the bulls might be near $3.20.

Another Decline? If XRP fails to clear the $3.080 resistance zone, it could start a fresh ￰14￱ support on the downside is near the $2.950 ￰15￱ next major support is near the $2.9220 ￰16￱ there is a downside break and a close below the $2.9220 level, the price might continue to decline toward $2.840. The next major support sits near the $2.780 zone, below which the price could gain bearish ￰17￱ Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish ￰18￱ RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 ￰19￱ Support Levels – $2.920 and $2.840. Major Resistance Levels – $3.080 and $3.120.