Ripple Price Analysis: XRP Trading Near Make-or-Break Levels

  • Ripple price declined recently and broke an important support at $0.3400 against the US dollar.
  • There was a break below a crucial contracting triangle with support at $0.3620 on the 4-hours chart of the XRP/USD pair (data source from Poloniex).
  • The pair tested the key $0.3185 support, below which it could test the $0.2975 support.

Ripple price moved into a bearish zone below $0.3400 against the US Dollar. XRP must hold $0.3185 or it might decline towards $0.2975 and $0.2920 in the near term.

Ripple Price Analysis

In the last analysis, we discussed a possible upside break if ripple price clear the $0.3900 resistance against the US Dollar. However, the XRP/USD pair struggled to gain momentum above the $0.3900 and $0.3920 levels. As a result, there was a bearish reaction and the price declined below the $0.3800 and $0.3600 support levels. The decline was strong as the price broke the key support near $0.3620 and the 55 simple moving average (4-hours).

More importantly, there was a…

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2019-01-14 10:00:57

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