- Ripple price failed near the $0.3370 level and declined below the $0.3250 support against the US dollar.
- The price traded to a new weekly low at $0.3134 and remains at a risk of more losses in the short term.
- There is a major bearish trend line formed with resistance near $0.3285 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could extend the current decline and it may even revisit the key $0.3000 support area.
Ripple price failed to gain bullish momentum against the US Dollar and bitcoin. XRP declined below $0.3220 and it may continue to decline towards $0.3000 before completing a correction.
Ripple Price Analysis
Yesterday, we saw a strong buying interest above $0.3200 and ripple price recovered above $0.3280 against the US Dollar. The XRP/USD pair even broke the $0.3350 level, but it failed to clear the $0.3370 level. It seems like the price struggled to settle above the $0.3350 level and the 100 hourly simple moving average. As a result, there was…
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