
Jakarta, Pintu News – The cryptocurrency market has recently witnessed a significant rise in the price of Ripple , which managed to maintain its position above the $2,850 level and showed impressive gains compared to Bitcoin and Ethereum .

Ripple (XRP) has shown a strong performance by holding above the $2,850 level and starting a new leg up. The price managed to break the $2,880 and $2,90 resistance, signaling a strong bullishness in the market. Market participants even managed to push the price past the $2,950 level, with the peak recorded at $2,994.
Currently, Ripple (XRP) is consolidating its gains and testing the 23.6% Fibonacci retracement level of the last rise from $2,794 to $2,994. The price is currently trading above $2,920 and the 100-hourly simple moving average.
Additionally, there is a bullish trend line forming with support at $2,930 on the hourly chart of the Ripple (XRP)/USD pair. If this support is successfully defended, there is potential for further price gains.
If support at $2,930 continues to hold, Ripple (XRP) may try to rise again. On the upside, the price may face resistance near $2,980. The first major resistance is near the $3.00 level.
If the price manages to break the $3.00 resistance, it could push Ripple (XRP) towards the $3.050 resistance. A further rise would probably take the price towards $3,120, with the next big hurdle for the bulls being near $3,150.

However, if Ripple (XRP) fails to break the $2,980 resistance zone, prices could continue to fall. Initial support on the downside is near the $2,930 level and the trend line. The next major support is near the $2.8920 level or the 50% Fibonacci retracement level of the last rise from $2.794 to $2.994.
In case of a downward break and close below the $2.8920 level, the price may continue to decline towards $2.860. The next major support lies in the $2.850 zone, below which the price could gain bearish momentum.
The hourly MACD indicator for Ripple (XRP)/USD is currently losing momentum in the bullish zone. Meanwhile, the hourly Relative Strength Index (RSI) for Ripple (XRP)/USD is above the 50 level. The key support levels are at $2,930 and $2,860, while the key resistance levels are $2,980 and $3,00.
With strong support and indicators still showing potential, Ripple (XRP) has a chance to reach and even cross the $3.00 level. Market participants should keep an eye on the mentioned support and resistance levels to make informed trading decisions.
Also Read: 2 Crypto Analysts Predict Cheds to Reach ATH, One of Them Can Reach $9,000!
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