- Ripple price is currently declining from the key $0.2320 resistance area against the US dollar.
- The price is now trading below $0.2260 and it is showing a few bearish signs.
- Yesterday’s major bullish trend line was breached with support near $0.2280 on the hourly chart of the XRP/USD pair (data source from Kraken).
- Ethereum is also struggling and it is declining towards the $144 support area.
Ripple price is under a minor bearish pressure against the US Dollar, similar to bitcoin. XRP price remains at a risk of a drop towards the $0.2140 support area in the near term.
Ripple Price Analysis
In the past few days, there was a decent increase in ripple price above the $0.2200 resistance against the US Dollar. XRP price traded above the $0.2250 and $0.2280 resistance levels. Moreover, there was a clear break above the $0.2300 resistance and the 100 hourly simple moving average. However, the price struggled to gain strength above the key $0.2320 resistance area.More importantly, yesterday’s highlighted major bullish trend line was breached with support near $0.2280 on the hourly chart of the XRP/USD pair. Additionally, the pair settled below $0.2260 and the 100 hourly simple moving average.
Ripple is now trading below the $0.2240 and approaching the 50% Fib retracement level of the upward move from the $0.2098 low to $0.2324 high. It seems like the $0.2210 and $0.2200 levels are decent supports.