XRP Expects Gains
From $3.20 barrier, XRP began consolidating. The price is stabilizing and may rise over $3.20.
XRP started a downtrend from $3.220.
The price is above $3.050 and the 100-hour SMA.
XRP/USD broke above a bullish flag formation with resistance at $3.10 on the hourly chart.
If it breaks $3.20 barrier, the pair may rise again.
XRP Expects Gains
XRP rose beyond $2.950, outperforming Bitcoin and Ethereum. Price rose over $2.95 and $3.00 resistance.
Recently, the price retreated from its $3.214 high. Price fell below $3.10. The price fell near the 50% Fib retracement line of the ascending wave from $2.6560 swing low to $3.214 high.
Bulls drove the price beyond $3.00. XRP/USD broke above a bullish flag formation with resistance at $3.10 on the hourly chart.
The price is above $3.050 and the 100-hour SMA. Price may find resistance at $3.150 on the upside. Around $3.20 is the first substantial obstacle. Next resistance is $3.220.
A clean break over $3.220 might push the stock above $3.320. More advances might push the price toward $3.380 or $3.420. The bulls may face $3.50 next.
Another Fall?
XRP may fall again if it fails to break $3.150. The downside has initial support at $3.00. Near $2.950 is the next important support.
If the price breaks down and closes below $2.950, it may go below the $2.860 support or the 61.8% Fib retracement level of the rising wave from the $2.6560 swing low to the $3.214 high. Near $2.750 is the next important support.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $3.00, $2.950.
Key Resistance Levels: $3.150, $3.20.
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