XRP Price Poised for Fresh Upward Move Amid Renewed Bullish Pressure

XRP has begun a fresh price increase, recovering from a low of $2.959. The cryptocurrency is now trading above the $3.20 zone and the 100-hourly Simple Moving Average. A significant bearish trend line resistance at $3.240 has been broken on the hourly chart. This upward momentum suggests that XRP could continue to gain if it holds above the $3.150 support. Earlier, XRP experienced a decline, underperforming Bitcoin and Ethereum, and dropped below key support levels, including $3.00. After forming a low, the price started correcting upwards, moving above the 23.6% Fibonacci retracement level. The immediate upside faces resistance near $3.30 and the 50% Fibonacci retracement level. A decisive break above $3.3850 could propel XRP towards $3.450 and potentially $3.50 or $3.5120. The next significant resistance lies around the $3.650 zone. However, if XRP fails to overcome the $3.30 resistance, another decline is possible. Initial downside support is identified at $3.20, with further support at $3.150. A break below $3.150 could lead to a further drop towards $3.050 and then the $3.00 support zone. Technical indicators like the hourly MACD and RSI are showing bullish signals, with the RSI now above 50.