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HomeAltcoin NewsRipple Price Analysis: Bears In Active Below $0.385

Ripple Price Analysis: Bears In Active Below $0.385

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  • Ripple price started a fresh decline from the $0.400 zone against the US dollar.
  • The price is now trading below $0.3850 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.3800 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could extend losses if it stays below the $0.3850 resistance zone.

Ripple price is struggling below $0.3850 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3620 to avoid more downsides in the near term.

Ripple Price Analysis

This past week, ripple price saw a bearish reaction from the $0.4050 zone against the US Dollar. The XRP/USD pair declined below the $0.3920 support zone to move into a bearish zone.

The recent move was such that the price declined below $0.3850 and the 55 simple moving average (4-hours). There was a clear move below the 50% Fib retracement level of the upward move from the $0.3620 swing low to $0.4086 high.

It is now trading below $0.3850 and the 55 simple moving average (4-hours). There is also a key bearish trend line forming with resistance near $0.3800 on the 4-hours chart of the XRP/USD pair.

An initial support on the downside is near the $0.3730. It is near the 76.4% Fib retracement level of the upward move from the $0.3620 swing low to $0.4086 high. The next major support is near the $0.3650 level or the last swing low.

Any more losses could lead the price towards the $0.3500 level, below which the price might even test $0.3320. On the upside, the price is facing resistance near $0.3800 and the trend line.

The next major resistance is near the $0.3850 level. The main resistance is near the $0.3900 zone. A clear move above the $0.3850 and $0.3900 resistance zones might start a fresh increase. In the stated case, the price could even surpass the $0.4000 resistance. Any more gains might send the price towards the $0.415 resistance.

Ripple Price
Ripple Price

Looking at the chart, ripple price is now trading below the $0.385 zone and the 55 simple moving average (4-hours). Overall, the price could extend losses if it stays below the $0.3850 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 – $0.3730, $0.3620 and $0.3500.

Key Resistance Levels – $0.3850 and $0.3900.

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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