XRP Price Consolidation Deepens – Resistance Still Capping Upside

XRP experienced a downside correction, falling below the $3.120 zone and even dipping below $3.020. Bulls emerged near the $3.00 mark, forming a low at $2.999, and the price is now attempting a recovery. It has moved above $3.050 and $3.080, surpassing the 23.6% Fib retracement level. Currently, XRP trades below $3.150 and the 100-hourly Simple Moving Average. A bearish trend line with resistance at $3.150 is forming on the hourly chart. The price might aim for a move above $3.1650, potentially leading to further gains towards $3.20 and $3.250. However, failure to clear the $3.1650 resistance could trigger another decline. Initial support lies at $3.080, with the $3.00 level being a crucial support zone. A break below $3.00 could send XRP towards $2.920 and subsequently $2.850. The hourly MACD is losing momentum in the bearish zone, while the RSI is above 50.