Oh, what a sight to behold! The XRP price, like a young man in his first love, dances joyfully above the $2.950 zone. It consolidates its strength, much like a nobleman preparing for a grand ball, and may very well aim for a fresh move above $3.120.
- Why, the XRP price has found itself consolidating above the $2.920 and $2.950 levels, as if it were taking a leisurely stroll through the park before a grand performance.
- And lo, the price is now trading above $2.950 and the 100-hourly Simple Moving Average, as though it were a carriage gliding smoothly over cobblestones.
- A rising channel, oh so gracefully, forms with resistance at $3.120 on the hourly chart of the XRP/USD pair (data source from Kraken), like a fence that only serves to make the garden more appealing.
- The pair, if it continues to stay above the $2.950 zone, might just continue its upward journey, as if propelled by the invisible hands of fate.
XRP price, dear reader, remained in a positive zone after it settled above the $2.850 zone, much to the envy of Bitcoin and the admiration of Ethereum. The price managed to ascend above the $2.920 and $3.00 resistance levels, as if it were climbing the social ladder with ease.
However, the bears, those pesky fellows, were quite active near $3.120. A high was formed at $3.1260, and the price, like a well-mannered gentleman, is now consolidating gains below the 23.6% Fib retracement level of the recent upward move from the $2.781 swing low to the $3.126 high.
The price is now trading above $2.920 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.065 level, but fear not, for the first major resistance is near the $3.120 level. And there it is, a rising channel forming with resistance at $3.120 on the hourly chart of the XRP/USD pair, like a castle wall that only serves to make the fortress more formidable.
A clear move above the $3.120 resistance might send the price toward the $3.150 resistance, as if it were a ship sailing towards a distant shore. Any more gains might send the price toward the $3.20 resistance, and the next major hurdle for the bulls might be near $3.250, where they will find themselves facing the ultimate test of their mettle.
Another Decline?
If XRP fails to clear the $3.120 resistance zone, it could start a fresh decline, as if the wind suddenly turned against our intrepid sailor. Initial support on the downside is near the $2.990 level, and the next major support is near the $2.950 level, where it might find a temporary haven.
If there is a downside break and a close below the $2.950 level, the price might continue to decline toward the $2.920 support and the 61.8% Fib retracement level of the recent upward move from the $2.781 swing low to the $3.126 high. The next major support sits near the $2.8620 zone, below which the price could gain bearish momentum, like a storm cloud gathering on the horizon.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone, as if it were a horse galloping towards victory.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level, indicating a strong position, much like a king sitting firmly on his throne.
Major Support Levels – $2.990 and $2.920, where the price might find solace in times of trouble.
Major Resistance Levels – $3.120 and $3.150, the gates it must pass to reach greater heights.
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2025-08-25 07:19