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Ripple (XRP) Price analysis: consolidation under key resistance

The price of ripple failed to exceed the resistance of $ 0.4000 and fell below $ 0.3800. XRP / USD is currently trading in a range above support levels $ 0.3530 and $ 0.3350.

  • The price of the ripple has struggled to exceed the resistance levels of $ 0.3980 and $ 0.4000.
  • There was an outage below an uptrend line in connection with support at $ 0.3780 on the 30-minute chart.
  • The XRP price currently holds support levels of $ 0.3530 and $ 0.3350.

Ripple XRP Price

Price analysis of undulations

Yesterday, there was a slight recovery above the $ 0.3700 level of the ripple. Buyers pushed the price above the $ 0.3800 level, but struggled to cancel resistance levels of $ 0.3980 and $ 0.4000.

XRP chart of ripple price analysis

Click to enlarge the chart

Looking at the 30-minute XRP / USD chart, the pair traded up to $ 0.3989 and then started a bearish move. It broke the support of $ 0.3800 and settled below the 25-minute (30-minute) moving average.

During the decline, there was also a rupture below the $ 0.3700 level and the 50% fiber retracement level of the last wave from $ 0.3290 down to $ 0, 3989 above. Furthermore, there was a break below an uptrend line that connects with a $ 0.3780 support on the same chart.

The price tested the support of $ 0.3530 in which buyers emerged. An intraday low was formed at $ 0.3460 and thereafter the price rose above $ 0.3530. He tested the level of $ 0.3700, which acted as resistance along with the 25-minute (30-minute) moving average.

In addition, the 50% Fibra retracement level of the recent decline from the low of $ 0.3989 to $ 0.3460 low also acted as resistance. At the moment, the price is consolidating above the support of $ 0.3530, with a slight bullish angle.

To start a decent move, the price must exceed the $ 0.3650 level, a bearish trend line and finally $ 0.3700. However, the main barriers for buyers are around $ 0.3860 and $ 0.3900, beyond which the price could test the barrier of $ 0.4000.

Overall, the price of ripple is consolidating above the $ 0.4530 support. If there are further drops, XRP could test the next major support at $ 0.3350.

Market data is provided by TradingView, Bitfinex.

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