Compass Investments

$XRP

XRP price shows a little vulnerability - should we wait for a more serious decline?

- XRP price has started a correction down below the $ 3,250 area. At the moment, the price is consolidating and is capable of dropping below $ 3,050.

XRP price has started a new pullback below the $ 3,250 area.

The price is now trading below $ 3,220 and the 100-hour moving average.

On the hourly chart of the XRP/USD pair (data from Kraken) there was a breakdown below the key bullish trend line with support at $ 3,240.

The pair may resume growth if it holds above $ 3,080.

#XRP price started a new decline from the $ 3,330 area, just like #bitcoin and #Ethereum . The price fell below the support levels of $ 3,2850 and $ 3,250.

price fell below the Fibonacci retracement level of 50% of the upward movement from the low of $ 3,004 to the high of $ 3,330. In addition, on the hourly chart of XRP/USD there was a breakdown below the key bullish trend line with support at $ 3,240.

the decline was such that the price is trading below $ 3,120. It's now trading below $ 3,150 and the 100-hour moving average.

On the upside, the price may encounter resistance around $ 3.1680. The first major resistance is around $ 3.220. If the price rises above $ 3.220, it will head towards $ 3.250. A further rise could send the price to the resistance of $ 3.330 or even $ 3.350 in the near term. The next major bullish hurdle could be around $ 3.40.

Is further decline possible?

If XRP fails to overcome the resistance area of $ 3.250, another decline may begin. Initial support on the downside is around $ 3,080 or the 76.4% Fibonacci retracement level from the low of $ 3,004 to the high of $ 3,330. The next major support is around $ 3,050.

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