Ripple price topped near the $0.4085 level and declined below $0.4000. XRP/USD is currently trading in a bearish zone and it could extend losses towards $0.3880 or $0.3810.
- Ripple price traded below a couple of important supports near $0.4000 and $0.3980.
- XRP/USD is facing resistance near $0.3960 and a bearish trend line on the 30-minute chart.
- The price could decline further to test the $0.3880 or $0.3810 support in the near term.
Ripple Price Analysis (XRP to USD)
Recently, there was a steady rise in ripple price above the $0.4020 and $0.4050 levels. Bitcoin price performed really well and surpassed the $13,000 barrier. However, XRP/USD failed to climb further higher, topped near the $0.4085 level and recently started a fresh decline.
Click to Enlarge Chart
Looking at the 30-minute chart of XRP/USD, the pair traded below a couple of important supports near $0.4000 and $0.3980 to enter a bearish zone.
There was even a close below the $0.4000 level and the 25 simple moving average (30-minute chart). It opened the doors for more losses and the price tested the $0.3900 support area. A swing low was formed near $0.3896 and the price recently corrected higher.
It broke the $0.3940 level and the 23.6% Fib retracement level of the recent slide from the $0.4082 high to $0.3896 swing low. However, the price struggled to clear the $0.3990 and $0.4000 levels.
At the outset, ripple price seems to be facing resistance near $0.3960 and a bearish trend line on the same chart. The 50% Fib retracement level of the recent slide from the $0.4082 high to $0.3896 swing low is also near $0.3989 to prevent gains.
Therefore, there is a risk of a downside extension below the $0.3900 level. The price could test the $0.3880 support area. If there are more losses, the next stop might be $0.3815.
Conversely, ripple price needs to climb above the $0.4000 resistance area to move into a positive zone. Once XRP/USD gains pace above $0.4000 and $0.4020, there could be a fresh rise towards the $0.4080 and $0.4100 levels. The next key resistance is near the $0.4220 level.
The market data is provided by TradingView, Bitfinex.