Ripple failed to stay above the $ 0.5550 level and fell more than 10%. Ripple began a new decline after trying to clear the $ 0.6500 resistance against the US dollar.
Ripple (XRP) falls
The price is currently trading well below $ 0.5500 and is testing the 100 simple moving average (4 hours).
Looking at the 4-hour chart of the XRP / USD pair, there is a break below a major bullish trend line with support near $ 0.5300.
The pair could either drop below $ 0.4800 or start a fresh increase from the 100 SMA.
If Ripple stays above the $ 0.4850 support and the 100 SMA, there is a new chance for the price to rise. Initial resistance is near the $ 0.5250 level and a linked bearish trend line.
A clear break above the trendline resistance could push the price above $ 0.5500. The next major resistance for the bulls could be $ 0.6000.
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 50 level.
Major Support Levels: $ 0.4850, $ 0.4500 and $ 0.4000.
Major Resistance Levels: $ 0.5250, $ 0.5500 and $ 0.6000.