XRP Price Struggles to Break Resistance as Consolidation Deepens

XRP is currently facing strong resistance as it attempts to rebound from recent losses. After dipping below the $3.120 level, the price found temporary support near the $3.00 zone and is now trying to initiate a recovery.

At the time of writing, XRP is trading under $3.150 and remains below the 100-hour Simple Moving Average, suggesting that bearish pressure is still in play. A descending trend line is forming near $3.150, creating a key resistance level for any short-term bullish momentum.

A successful push above $3.1650 could open the door for a move toward $3.20, with further potential upside toward $3.25 or even $3.30 if buying pressure increases. However, failure to break above $3.1650 might lead to another pullback toward $3.080 or the critical $3.00 support level.

A drop below $3.00 could trigger further downside, potentially testing the $2.92 or $2.85 zones in the near term.

Key Technical Levels:

Support: $3.080, $3.00, $2.92
Resistance: $3.150, $3.1650, $3.20

Indicators:

Hourly RSI: Trading slightly above 50, indicating mild bullish momentum.
MACD: Showing weakening bearish signals, but no strong reversal yet.