XRP Price Rebound Faces Wall – Key Technicals Suggest Limited Upside Ahead

XRP price started a fresh decline below the $2.920 ￰0￱ price is now showing bearish signs and might decline again below the $2.80 ￰1￱ price is moving lower below the $2.920 support ￰2￱ price is now trading below $2.90 and the 100-hourly Simple Moving ￰3￱ is a bearish trend line forming with resistance at $2.920 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it dips below $2.80. XRP Price Declines Sharply XRP price failed to extend gains above $3.120 and started a fresh decline, like Bitcoin and ￰4￱ price dipped below the $3.00 and $2.920 support ￰5￱ bears even pushed the price below $2.80.

A low was formed near the $2.678 support, and the price is now correcting some ￰6￱ was a move above the 23.6% Fib retracement level of the recent decline from the $3.138 swing high to the $2.678 ￰7￱ price is now trading below $2.90 and the 100-hourly Simple Moving Average. Besides, there is a bearish trend line forming with resistance at $2.920 on the hourly chart of the XRP/USD ￰8￱ the bulls protect the $2.80 support, the price could attempt a steady ￰9￱ the upside, the price might face resistance near the $2.90 ￰10￱ first major resistance is near the $2.920 level and the trend ￰11￱ is close to the 50% Fib retracement level of the recent decline from the $3.138 swing high to the $2.678 low.

A clear move above the $2.920 resistance might send the price toward the $3.00 ￰12￱ more gains might send the price toward the $3.050 ￰13￱ next major hurdle for the bulls might be near $3.120. Another Decline? If XRP fails to clear the $2.920 resistance zone, it could continue to move ￰14￱ support on the downside is near the $2.820 ￰15￱ next major support is near the $2.80 ￰16￱ there is a downside break and a close below the $2.80 level, the price might continue to decline toward $2.740. The next major support sits near the $2.650 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 – $2.820 and $2.80.

Major Resistance Levels – $2.90 and $2.920.