- Ripple price declined recently, but it managed to stay above the $0.3480 support against the US dollar.
- The price must stay above the $0.3480 support to avoid a downside break in the near term.
- There are a couple of short term bearish trend lines in place with resistance near $0.3595 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could start a major downside move if it settles below the $0.3480 support level in the near term.
Ripple price is currently consolidating against the US Dollar and bitcoin. XRP bulls might lose control if there is a downside break below the $0.3480 support area.
Ripple Price Analysis
In the past few sessions, we mostly saw range moves below $0.3700 in ripple price against the US Dollar. Earlier, the XRP/USD pair made a few attempts to break the $0.3700 and $0.3740 resistance levels. However, bulls failed to gain bullish momentum above $0.3740 and the price retreated from highs. It broke the $0.3650 support and settled below…
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