Ripple price declined further and broke the $0.3000 support zone. XRP is trading with a bearish angle and it could slide further below $0.2900 in the near term.

  • Ripple price topped below the $0.3070 resistance and declined below the $0.3000 support.
  • There was a break below a declining channel with support at $0.2965 on the 30-minute chart.
  • XRP is under a lot of pressure and it may extend losses below $0.2900 and $0.2880.

Ripple XRP Price

Ripple Price Analysis

Yesterday, we discussed a strong downtrend in ripple price below the $0.3100 level. XRP remained below the $0.3100 and $0.3070 resistance levels, resulting in a downside extension below the $0.3000 support level.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair traded as high as $0.3058 and later declined below the $0.3020 and $0.3000 support levels. There was even a close below the key $0.3000 support and the 25 simple moving average (30-minute).

Moreover, there was a break below a declining channel with support at $0.2965 on the same chart, opening the doors for a drop to $0.2900. A new monthly low was formed at $0.2923 and the price is currently consolidating losses.

An initial resistance is near $0.2960 and the 23.6% Fib retracement level of the recent drop from the $0.3058 high to $0.2923 low. However, the main resistance is near the $0.3000 level and the 25 simple moving average (30-minute).


Besides, the 50% Fib retracement level of the recent drop from the $0.3058 high to $0.2923 low is near the $0.2990 level. Therefore, if the price corrects higher, the $0.2990 and $0.3000 levels are likely to prevent gains in the near term.

On the downside, an initial support is near the $0.2920 low, below which there is a risk of a break below the $0.2900 level. The next key supports are at $0.2880 and $0.2860. Overall, ripple price is clearly trading in a downtrend below $0.3000 and $0.3050, with bearish moves. Therefore, there could be more losses below $0.2920 and $0.2900.

The market data is provided by TradingView, Bitfinex.

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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.

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