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HomeAltcoin NewsRipple Price Analysis: Bears In Action Below $0.40

Ripple Price Analysis: Bears In Action Below $0.40

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  • Ripple price started a fresh decline below the $0.4000 zone against the US dollar.
  • The price is now trading below $0.4000 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.3820 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could extend losses if it stays below the $0.4000 resistance zone.

Ripple price is struggling below $0.4000 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3650 to avoid more downsides in the near term.

Ripple Price Analysis

This past week, ripple price saw a bearish reaction below the $0.4000 zone against the US Dollar. The XRP/USD pair declined below the $0.3880 support zone to move into a bearish zone.

The price even traded below the $0.3800 level. Finally, there was a move below the $0.3720 level. The price traded as low as $0.3663 and is currently attempting an upside correction. The price is now trading below $0.4000 and the 55 simple moving average (4-hours).

On the upside, the price is facing resistance near $0.3800. It is near the 23.6% Fib retracement level of the downward move from the $0.4204 swing high to $0.3663 low.

The next major resistance is near the $0.3820 level. There is also a key bearish trend line forming with resistance near $0.3820 on the 4-hours chart of the XRP/USD pair. The main resistance is near the $0.3950 zone. It is near the 50% Fib retracement level of the downward move from the $0.4204 swing high to $0.3663 low.

A clear move above the $0.3950 and $0.4000 resistance zones might start a fresh increase. In the stated case, the price could even surpass the $0.4120 resistance. Any more gains might send the price towards the $0.425 resistance.

An initial support on the downside is near the $0.3650 level. The next major support is near the $0.3500 level, below which the price could even test the $0.3320 support. Any more losses could lead the price towards the $0.3200 level, below which the price might even test $0.3000.

Ripple Price
Ripple Price

Looking at the chart, ripple price is now trading below the $0.400 zone and the 55 simple moving average (4-hours). Overall, the price could extend losses if it stays below the $0.4000 resistance zone.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is below the 50 level.

Key Support Levels – $0.3650, $0.3500 and $0.3200.

Key Resistance Levels – $0.3820 and $0.4000.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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