RRipple failed to extend gains above $0.2580 and declined sharply against the US Dollar. XRP price is likely to decline heavily if it breaks the key $0.2300 support zone. Ripple is now trading well below the $0.2400 and $0.2380 support levels against the US dollar. The price is facing many hurdles and it is now well below the 100 simple moving average (4-hours). There was a break below a crucial bullish trend line with support near $0.2440 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair is likely to decline sharply if there is a close below $0.2300 and $0.2280. Ripple Price is Testing Important Support This week, we saw a fresh decline in bitcoin, Ethereum, and ripple. XRP price failed to stay above the $0.2500 and $0.2450 support levels, and moved into a bearish zone. There was a sharp decline after there was a close below the $0.2440 support and 100 simple moving average (4-hours). More importantly, there was a break below a crucial bullish trend line with support near $0.2440 on the 4-hours chart of the XRP/USD pair. 14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradise! Play Now! The pair even traded below the $0.2320 support and traded as low as $0.2293. It is currently consolidating losses above a significant support zone near $0.2290-$0.2300. .
MMore Losses in XRP? If ripple fails to recover above the $0.2400 and $0.2440 resistance levels, there is a risk of more losses. The main breakdown support is forming near the $0.2290-$0.2300 zone. A downside break and close below the $0.2290-$0.2300 zone could start a sharp decline. The next main support is near the $0.2200 level, below which the price could accelerate lower towards $0.2120. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is slowly losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is well below the 50 level. Major Support Levels – $0.2300, $0.2290 and $0.2200. Major Resistance Levels – $0.2365, $0.2400 and $0.2440.