Ripple Price Analysis: XRP In Trouble, Bears Eye Further Declines

  • Ripple price failed to break the $0.3075 and $0.3100 resistance levels against the US dollar.
  • There was a break below a major bullish trend line with support at $0.3050 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair remains at a risk of more losses below the $0.2960 and $0.2940 support levels in the near term.

Ripple price is under bearish pressure against the US Dollar and Bitcoin. XRP/USD sellers are in control and they seem to eyeing a test of the $0.2900 zone in the coming sessions.

Ripple Price Analysis

This past week, there was a sharp rise in ripple price above the $0.3300 resistance against the US Dollar. The XRP/USD pair traded as high as $0.3336 and later corrected lower. It declined below $0.3200 support to move into a bearish zone. The price even broke the $0.3000 support before buyers appeared near the $0.2940 level. Later, there was an upside correction above the $0.3050 level. Buyers pushed the price above the 23.6% Fib retracement…

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2019-02-04 05:00:34

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