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Main highlights
- The price of ripple collapsed abruptly after a daily close of less than $ 0.4000 compared to the US dollar
- C & # 39; is a bearish trend line in place with resistance at $ 0.3900 on the hourly chart of the XRP / USD pair (data source from Kraken).
- The pair is currently under much pressure and may fall to the $ 0.3200 level.
The price of the ripple dropped sharply against the US dollar and Bitcoin. The XRP / USD is now well below $ 0.3800 and may possibly fall further towards $ 0.3200.
Ripple price trend
There were heavy slips below the $ 0.4000 support in Ripple's price against the US dollar. The XRP / USD yesterday broke a crucial support near the $ 0.4270 level, which opened the door to further declines. Today the price has fallen below support levels of $ 0.3800 and $ 0.3600. The trend was such that the price even exceeded the $ 0.3500 level. A minimum amounted to $ 0.3400 and it seems that the price can continue to fall.
An initial upward resistance approaches the fiber retracement level of 23.6% of the last slide, from $ 0.4138 to $ 0.3400 at the bottom. There is also a downtrend line in place with resistance at $ 0.3900 on the hourly chart of the XRP / USD pair. However, any major upward shift from current levels will most likely address barriers near the levels of $ 0.3600 and $ 0.3800. The 50% fiber retracement level of the last slide from the low of $ 0.4138 to $ 0.3400 is also positioned near the $ 0.3750 level.
Looking at the chart, the price of the ripple is under solid downward pressure and may soon break the $ 0.3400 low. The next support on the negative side is close to the $ 0.3200 level. Below this, the price could also test the $ 0.3000 level in the short term.
Looking at the technical indicators:
MACD timetable – The MACD for XRP / USD is heavily positioned in the bearish zone.
RSI Time (Relative Strength Index) – The RSI for XRP / USD is currently moving lower towards level 15.
Major Support Level – $ 0.3200
Main resistance level – $ 0.3800
