XRP Price Recovery in Focus – Can It Overcome Selling Pressure?

XRP price is attempting to recover from the $2.70 ￰0￱ price is now moving higher and might gain pace if it clears the $2.850 ￰1￱ price is attempting to recover above the $2.750 ￰2￱ price is now trading below $2.850 and the 100-hourly Simple Moving ￰3￱ is a bearish trend line forming with resistance at $2.820 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to decline if it stays below the $2.850 ￰4￱ Price Eyes Recovery XRP price started a fresh decline below $2.880, like Bitcoin and ￰5￱ price traded below the $2.850 and $2.820 levels to enter a bearish ￰6￱ bears were able to push the price below $2.80 and the 100-hourly Simple Moving Average.

Finally, the price declined below $2.750 and tested $2.70. A low was formed at $2.7018, and the price is now correcting some ￰7￱ was a move above the 23.6% Fib retracement level of the downward move from the $3.040 swing high to the $2.701 ￰8￱ price is now trading below $2.820 and the 100-hourly Simple Moving ￰9￱ is also a key bearish trend line forming with resistance at $2.820 on the hourly chart of the XRP/USD ￰10￱ the bulls protect the $2.750 support, the price could attempt another ￰11￱ the upside, the price might face resistance near the $2.820 ￰12￱ first major resistance is near the $2.850 level. A clear move above the $2.850 resistance might send the price toward the $2.880 ￰13￱ more gains might send the price toward the $2.920 resistance or the 61.8% Fib retracement level of the downward move from the $3.040 swing high to the $2.701 ￰14￱ next major hurdle for the bulls might be near $2.960.

Another Decline? If XRP fails to clear the $2.850 resistance zone, it could continue to move ￰15￱ support on the downside is near the $2.750 ￰16￱ next major support is near the $2.70 ￰17￱ there is a downside break and a close below the $2.70 level, the price might continue to decline toward $2.650. The next major support sits near the $2.60 zone, below which the price could gain bearish ￰18￱ Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish ￰19￱ RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 ￰20￱ Support Levels – $2.750 and $2.70. Major Resistance Levels – $2.750 and $2.920.