- Ripple price faced a strong resistance near the $0.3330 level and declined sharply against the US dollar.
- There is a major bullish trend line in place with support at $0.2920 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could either climb back above the $0.3050 resistance or extend the current decline below $0.2900.
Ripple price failed to hold gains and declined heavily against the US Dollar and Bitcoin. XRP/USD remains at a risk of more losses as long as it is below $0.3050 and $0.3120.
Ripple Price Analysis
Yesterday, we saw a solid rally in ripple price above the $0.3200 resistance against the US Dollar. The XRP/USD pair even broke the $0.3300 resistance and the 100 hourly simple moving average. However, the price faced a strong resistance near the $0.3330 level and later declined sharply. It broke many supports, including $0.3300, $0.3250, $0.3150 and $0.3050. There was also a break below the 61.8% Fib retracement level of the last leg from the…
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