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HomeAltcoin NewsRipple Price Analysis: Risk of Downside Break Below $0.35

Ripple Price Analysis: Risk of Downside Break Below $0.35

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  • Ripple price started a fresh decline from the $0.3850 zone against the US dollar.
  • The price is now trading below $0.3750 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.3700 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could extend losses if it stays below the $0.3800 resistance zone.

Ripple price is struggling below $0.3800 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3500 to avoid more downsides in the near term.

Ripple Price Analysis

This past week, ripple price saw a bearish reaction from the $0.3850 zone against the US Dollar. The XRP/USD pair declined below the $0.3750 support zone to move into a bearish zone.

The recent move was such that the price declined below $0.3700 and the 55 simple moving average (4-hours). There was a clear move below the 50% Fib retracement level of the upward wave from the $0.3520 swing low to $0.3801 high.

It is now trading below $0.3750 and the 55 simple moving average (4-hours). There is also a key bearish trend line forming with resistance near $0.3700 on the 4-hours chart of the XRP/USD pair.

An initial support on the downside is near the $0.3625. It is near the 61.8% Fib retracement level of the upward wave from the $0.3520 swing low to $0.3801 high. The next major support is near the $0.3520 level or the last swing low.

Any more losses could lead the price towards the $0.3320 level, below which the price might even test $0.3000. On the upside, the price is facing resistance near $0.3660 and the trend line.

The next major resistance is near the $0.3800 level. The main resistance is near the $0.3850 zone. A clear move above the $0.3800 and $0.3850 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 $0.418 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 $0.3750 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 – $0.3620, $0.3520 and $0.3320.

Key Resistance Levels – $0.3660 and $0.3800.

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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