XRP Bulls Poised ⚡ – $3.12 Break Could Ignite Massive Rally 🚀

XRP broke $3.020 barrier and rose again. Positive signals suggest the price may accelerate if it breaks $3.120.

XRP is up from $2.980.

The price is above $3.020 and the 100-hour SMA.

XRP/USD broke over a rising channel with resistance at $3.070 on the hourly chart.

If it breaks $3.120, the pair may rise again.

XRP Attempts New Rise

Before Bitcoin and Ethereum bulls came, XRP fell below $3.00. A rebound wave began once the price tested $2.980.

Prices rose over $3.00 and $3.020. Price rose beyond the 50% Fib retracement of the $3.185 swing high to $2.957 low decline. Additionally, the hourly XRP/USD chart broke above a rising channel with resistance around $3.070.

The price is above $3.080 and the 100-hour SMA. If bulls hold $3.050, price may rise again. The upswing may encounter resistance at $3.10 or the 61.8% Fib retracement level of the decline from $3.185 swing high to $2.957 low.

Near $3.120 is the first big resistance. A clean break over $3.120 might push the price above $3.20. More advances might push price toward $3.2320 barrier. The bulls may face a severe test at $3.250.

Another Fall?

If XRP fails to break $3.120, it may fall. Initial downside support is $3.070. Near $3.040 is the next important support.

A bearish break and closing below $3.040 might push the price near $3.00. Bearish momentum may develop below $2.980, the next significant support.

Tech Indicators

Hourly MACD - XRP/USD MACD is rising in the positive zone.

XRP/USD's hourly RSI is over 50.

Major Support Levels: $3.040, $3.00.

Major resistance levels: $3.120, $3.20.

#xrp #FedRateCut25bps #AltcoinSeasonComing? #Write2Earn $XRP $ETH $BTC