XRP's Breakout Stalled at $2.750: What's Next?

XRP Price Upside Move Slows—What’s Stopping the Breakout?

XRP price has been correcting its gains from the $2.750 resistance level, but it continues to show positive signs and may attempt to move above the $2.750 resistance zone. The price started a fresh increase above the $2.620 level and is now trading above $2.620 and the 100-hourly Simple Moving Average. However, a connecting bearish trend line is forming with resistance at $2.720 on the hourly chart of the XRP/USD pair, which may hinder the price's upward momentum.

XRP price remained supported above the $2.550 level and formed a base, leading to a strong increase above the $2.62 resistance zone. The price cleared the $2.650 and $2.680 resistance levels and moved above the 61.8% Fib retracement level of the downward wave from the $2.8320 swing high to the $2.470 low. However, the bears were active near the $2.750 resistance zone and protected a close above the 76.4% Fib retracement level of the downward wave. The price is now moving lower below $2.70 and is trading above $2.720 and the 100-hourly Simple Moving Average.

On the upside, the price might face resistance near the $2.720 level, with a connecting bearish trend line forming on the hourly chart of the XRP/USD pair. The first major resistance is near the $2.750 level, followed by $2.80. A clear move above the $2.80 resistance might send the price toward the $2.850 resistance. Any more gains might send the price toward the $2.920 resistance or even $2.950 in the near term. The next major hurdle for the bulls might be $3.00.

If XRP fails to clear the $2.720 resistance zone, it could start another decline. Initial support on the downside is near the $2.650 level, followed by the $2.60 level. If there is a downside break and a