Ripple started a new low after failing to stay above $ 0.3000 against the US dollar. It seems that the XRP price has dropped over 20%, as the bears are aiming to test the $ 0.2000 support.
Ripple started a fresh decline well above the $ 0.2800 support zone against the US Dollar.
The price is currently trading well below $ 0.2500 and the 100 simple moving average.
There is a major bearish trend line showing resistance near $ 0.2460 on the 4-hour chart of the XRP / USD pair.
The pair is gaining bearish momentum and may continue to drop to $ 0.2000 or $ 0.1880.
Ripple XRP price dropped again
After a sharp drop, Ripple’s XRP price started a good recovery wave. It broke the $ 0.3000 and $ 0.3200 resistance levels, but was unable to continue higher. There was a rise near $ 0.3867 before the bears regained control.
There was another sharp drop and the price fell below the $ 0.3000 support. The price broke the $ 0.2800 support and fell well below the 100 simple moving average.
It opened the doors for further dips below $ 0.2400. There is a major bearish trend line with resistance near $ 0.2460 on the 4-hours chart of the XRP / USD pair.
It seems likely that the bears will aim for further damage below $ 0.2200. The next key support is near the $ 0.2000 level.
Further losses could push the price into the $ 0.1550 zone.
Where can XRP price go?
If Ripple starts a recovery wave, it could face many hurdles starting at $ 0.2350. The first major resistance for the bulls is near the $ 0.2500 level and the bearish trend line.
The main resistance is currently forming near the $ 0.3000 level and it could recover towards the 100 simple moving average (4 hours) above it.
4-Hour MACD – The MACD for XRP / USD is gaining momentum in the bearish zone.
4-Hour RSI (Relative Strength Index) – The RSI for XRP / USD is currently well below the 40 level.
Support Levels – $ 0.2050, $ 0.2000 and $ 0.1550.
Resistance Levels – $ 0.2450, $ 0.2500 and $ 0.3000.