Ripple price declined heavily below the $0.3200 support area against the USD. XRP is currently trading near the $0.3100 support and remains at a risk of further declines.

  • There was an increase in selling on ripple and the price declined below $0.3200.
  • XRP is following a bearish trend line with resistance at $0.3155 on the 30-minute chart.
  • A downside break below $0.3100 and $0.3080 could push the price towards $0.3000.

Ripple Price

Ripple Price Analysis (XRP to USD)

After a strong rise in bitcoin price above $5,800, ripple price climbed above the $0.3200 and $0.3250 levels. XRP/USD even broke the $0.3300 level before sellers took a stand near the $0.3325 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 $0.3327 and recently declined heavily below the $0.3250 and $0.3200 support levels. There was a proper close below the $0.3200 level and the 25 simple moving average (30-minute chart).

Finally, the price broke the $0.3120 support and tested the $0.3100 support. A swing low was formed recently at $0.3109 and the price is currently consolidating losses.

An initial resistance is near the $0.3150 level and the 50% Fib retracement level of the recent drop from the $0.3197 high to $0.3109 low. There is also a key bearish trend line with resistance at $0.3155 on the same chart.

The next key resistance is near $0.3175, and the 76.4% Fib retracement level of the recent drop from the $0.3197 high to $0.3109 low. Having said that, a close above the $0.3200 resistance region is must to kick start a fresh upward move above $0.3220 and $0.3250.

On the downside, the main support is near the $0.3100 level. If there is a bearish break below $0.3100, there could be a sharp drop below $0.3080 and $0.3070.

Overall, ripple price is clearly trading in a bearish zone below $0.3150 and $0.3200. Unless XRP climbs back above the $0.3200 level, there is a risk of more losses below the $0.3100 support level in the coming sessions.

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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