Ripple price declined heavily and tested the $0.3700 support area. XRP is currently correcting higher, but there are many resistances waiting on the upside near the $0.4000 resistance.

  • The price is currently rebounding above $0.3800 after it traded as low as $0.3699.
  • XRP is likely to struggle near $0.4000 and a major bearish trend line on the 30-minute chart.
  • Ripple price might struggle near $0.4000 and there could be more losses in the near term.

Ripple Price

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Ripple Price Analysis (XRP to USD)

This past week and weekend, there was a major decline in ripple price below the $0.4050 and $0.4000 support levels. XRP/USD faced an increase in selling pressure after it broke $0.4000, resulting in a slide towards the $0.3800 level.

Ripple Price Analysis (XRP to USD)

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair even broke the $0.3800 support level and settled below the 25 simple moving average (30-minute chart). A new weekly swing low was formed near $0.3699 and the price is currently correcting higher.

It moved above the $0.3750 level and the 23.6% Fib retracement level of the slide from the $0.4126 high to $0.3699 swing low. An immediate resistance on the upside is near the $0.3920 level.

The 50% Fib retracement level of the slide from the $0.4126 high to $0.3699 swing low is also near the $0.3915 level to act as a resistance. Moreover, there is a major bearish trend line forming with resistance near the $0.4000 level.

To start an upward move, the price must clear $0.4000 and the 76.4% Fib retracement level of the slide from the $0.4126 high to $0.3699 swing low. A successful close above $0.4040 is likely to open the doors for more gains in the near term.

Conversely, if ripple price struggles to clear the $0.4000 barrier, it could remain in a bearish zone. On the downside, the main support is near the $0.3700 level, below which XRP bulls might lose grip. The next stop for sellers might be near the $0.3500 pivot level, where the bulls could take a stand.

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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