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XRP Price Remains in Danger Zone – Is a Bigger Crash Coming?
XRP is encountering difficulties in its attempt to reclaim the $2.850 resistance zone. The price is currently trading below $2.820 and the 100-hourly Simple Moving Average. A bearish trend line is forming on the hourly chart with resistance at $2.8180. XRP previously experienced a recovery above $2.75 and $2.80 but stalled around $2.850. A fresh bearish reaction has occurred, pushing the price below the 50% Fibonacci retracement level. If bulls can defend the $2.780 support level, a subsequent increase might be attempted. However, resistance is anticipated near $2.820 and the trend line at $2.8180. A decisive break above $2.850 could lead to further gains towards $2.880 and potentially $3.00. Conversely, failure to overcome the $2.820 resistance could trigger a decline towards $2.780 and $2.744. A break below $2.744 might lead to a significant drop towards $2.70 and the $2.650 support zone. The hourly MACD is in bearish territory, and the RSI is below the 50 level, indicating bearish momentum.
