XRP is showing signs of weakness following a notable pullback from its recent high as bearish indicators and whale offloading warn of deeper risk. XRP (XRP) is trading at $2.94, down 3.7% in the last 24 hours and nearly 19%…

XRP faces risk of deeper correction, analyst cites MVRV death cross and whale selloff

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Babylon Labs has introduced a breakthrough in decentralized finance with the 
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Babylon unveils trustless BTC vaults for DeFi and staking

XRP price is struggling to continue higher above the $3.020 zone. The price is 
consolidating and might decline below the $2.920 support. XRP price is 
correcting gains from the $3.10 zone. The price is now trading near $2.980 and 
the 100-hourly Simple Moving Average. There is a bearish trend line forming 
with resistance at $3.020 on the hourly chart of the XRP/USD pair (data source 
from Kraken). The pair could start another increase if it stays above the 
$2.880 zone. XRP Price Faces Resistance XRP price failed to continue higher 
above the $3.10 resistance zone, like Bitcoin and Ethereum. The price formed a 
short-term top and started a fresh decline below the $3.020 level. The price 
dipped below the $3.00 level. There was a move below $2.950 and the price 
tested the 50% Fib retracement level of the upward move from the $2.730 swing 
low to the $3.106 high. However, the bulls were active near the $2.920 zone. 
The price is now trading near $2.980 and the 100-hourly Simple Moving Average. 
On the upside, the price might face resistance near the $3.00 level. There is 
also a bearish trend line forming with resistance at $3.020 on the hourly 
chart of the XRP/USD pair. The first major resistance is near the $3.10 level. 
A clear move above the $3.10 resistance might send the price toward the $3.120 
resistance. Any more gains might send the price toward the $3.180 resistance 
or even $3.20 in the near term. The next major hurdle for the bulls might be 
near the $3.250 zone. Another Decline? If XRP fails to clear the $3.020 
resistance zone, it could start another decline. Initial support on the 
downside is near the $2.920 level. The next major support is near the $2.880 
level or the 61.8% Fib retracement level of the upward move from the $2.730 
swing low to the $3.106 high. If there is a downside break and a close below 
the $2.880 level, the price might continue to decline toward the $2.810 
support. The next major support sits near the $2.750 zone where the bulls 
might take a stand. Technical Indicators Hourly MACD – The MACD for XRP/USD is 
now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – 
The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.920 
and $2.880. Major Resistance Levels – $3.020 and $3.10.