Ripple price started a strong decline from the .40 resistance against the US dollar. The price is now trading below .20 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near .05 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could resume its decline as long as there is no close above the .20 resistance zone. Ripple price is showing bearish signs below .20 against the US Dollar, similar to bitcoin. XRP price could decline heavily if there is a break below .05. Ripple Price Analysis After a major increase, ripple price faced resistance near the .40 zone against the US Dollar. The XRP/USD pair topped near .414 and started a major decline. There was a break below the .30 and
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- Ripple price started a strong decline from the $1.40 resistance against the US dollar.
- The price is now trading below $1.20 and the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $1.05 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
- The pair could resume its decline as long as there is no close above the $1.20 resistance zone.
Ripple price is showing bearish signs below $1.20 against the US Dollar, similar to bitcoin. XRP price could decline heavily if there is a break below $1.05.
Ripple Price Analysis
After a major increase, ripple price faced resistance near the $1.40 zone against the US Dollar. The XRP/USD pair topped near $1.414 and started a major decline.
There was a break below the $1.30 and $1.25 support levels. It even broke the key $1.20 support and the 55 simple moving average (4-hours) to move into a bearish zone. Finally, there was a spike below the $1.00 level and the price traded as low $0.9700.
Recently, there was a recovery wave above the $1.05 resistance level. XRP corrected above the 23.6% Fib retracement level of the downward move from the $1.414 high to $0.9700 low.
However, the price seems to facing resistance near the $1.15 level. The first major resistance is near the $1.158 level. The main resistance is now forming near $1.20 and the 55 simple moving average (4-hours). It is close to the 50% Fib retracement level of the downward move from the $1.414 high to $0.9700 low.
A close above the $1.20 could set the pace for more gains. The next major resistance is near the $1.25 level. Any more gains could lead the price towards the $1.35 level.
On the downside, an initial support is near the $1.05 level. There is also a key bullish trend line forming with support near $1.05 on the 4-hours chart of the XRP/USD pair. Any more losses could lead the price towards the $0.9500 level.
Ripple Price
Looking at the chart, ripple price is now trading well below $1.20 and the 55 simple moving average (4-hours). Overall, the price could resume its decline as long as there is no close above the $1.20 resistance zone.
Technical indicators
4 hours MACD – The MACD for XRP/USD is now gaining momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Key Support Levels – $1.05, $1.00 and $0.9500.
Key Resistance Levels – $1.15 and $1.20.