XRP News: Critical $3.080 Support Test After 76.4% Fibonacci Retracement – Will Recovery Follow?
XRP is at a pivotal moment as it tests the crucial $3.080 support level following a dramatic 76.4% Fibonacci retracement. This make-or-break situation could determine whether the cryptocurrency stages a recovery or faces further declines. Here’s what traders need to know.
XRP Price Faces Critical Test at $3.080
The XRP price action has reached a decisive point after retracing 76.4% of its recent upward move from $3.004 to $3.330. The $3.080 level now serves as:
- A major Fibonacci support zone
- The last defense before potential deeper declines
- A springboard for possible recovery
Fibonacci Retracement: What It Means for XRP
The 76.4% retracement is significant because:
| Level | Importance |
|---|---|
| 76.4% | Deep retracement often preceding reversals |
| $3.080 | Critical support holding recovery hopes |
| $3.020 | Next support if $3.080 fails |
Will XRP Recovery Gain Traction?
The cryptocurrency shows mixed signals:
- RSI above 50 suggests weakening bearish pressure
- MACD remains in bearish territory
- Price briefly broke bearish trend line at $3.120
Key Resistance Levels to Watch
For bulls to regain control, XRP must overcome:
- $3.170 immediate resistance
- $3.20 critical threshold
- 100-hourly Simple Moving Average
FAQs About XRP’s Current Situation
Q: What happens if XRP holds $3.080 support?
A: Holding could lead to a test of $3.20 resistance and potential recovery toward $3.25-$3.40.
Q: What’s the significance of the 76.4% Fibonacci level?
A: This deep retracement often precedes reversals when combined with other technical factors.
Q: How does XRP’s performance compare to Bitcoin and Ethereum?
A: XRP has shown divergence, underperforming while BTC and ETH showed relative strength.
Q: What’s the worst-case scenario for XRP?
A: Breakdown below $3.020 could trigger moves toward $3.00 or even $2.980 support.
