XRP Price Starts Recovery Move – Will It Lead to a Bullish Reversal?

XRP's price experienced a downside correction, falling below the $3.20 zone. It then found support near the $3.080 level. A bearish trend line with resistance at $3.120 was broken on the hourly chart. The price is currently trading below $3.20 and the 100-hourly Simple Moving Average. XRP might attempt a recovery and could aim to move above the $3.170 level. Clearing the $3.20 resistance could propel the price towards $3.250 and potentially $3.330. Conversely, failure to overcome the $3.20 resistance may lead to another decline. Initial support on the downside is identified at $3.080, followed by $3.020. A break below $3.020 could see XRP fall towards the $3.00 support. The hourly MACD is losing momentum in the bearish zone, while the hourly RSI is above 50.