Contents
Ripple is trying to stay above the $ 0.2600 support against the US Dollar. If there is a close below $ 0.2600 and $ 0.2550, XRP price could fall.
Ripple is showing several bearish signs below the $ 0.2750 and $ 0.2800 resistance levels against the US Dollar.
The price is testing the $ 0.2600 support and is well below the 100 simple moving average.
There is a key bearish trend line showing resistance near $ 0.2720 on the 4-hours chart of the XRP / USD pair.
The pair could either break above $ 0.2750 or slide towards the $ 0.2150 support.
Ripple trying to save its price
After struggling to clear the $ 0.3120 resistance, Ripple’s XRP price started a new decline. The price dropped well below the $ 0.2800 support level and even fell below $ 0.2600.
A low was formed around $ 0.2390 before the price started an upward correction. There was a break above the $ 0.2500 and $ 0.2550 levels.
However, the price appears to be facing resistance near the $ 0.2850 level. On the 4-hour chart of the XRP / USD pair there is a key bearish trend line with resistance near $ 0.2720.
If there is a downside break below the $ 0.2600 support level, the bears are likely to strengthen. In the state mentioned, there is a sharp downside risk towards the $ 0.2400 and $ 0.2350 levels. The price may even revisit the $ 0.2150 level in the near term.
If Ripple stays above the $ 0.2600 support zone, there is a chance for a new increase in price. A successful close above the $ 0.2800 level could open the doors for an increase towards the $ 0.3000 and $ 0.3120 levels.
Technical indicators
4-Hour MACD – The MACD for XRP / USD is showing negative signs in the bearish zone.
4-Hour RSI (Relative Strength Index) – The RSI for XRP / USD is well below the 50 level.
Major Support Levels – $ 0.2600, $ 0.2450 and $ 0.2150.
Major Resistance Levels – $ 0.2750, $ 0.2800 and $ 0.35000.
