chart<\/a>, ripple price is clearly under a lot of bearish pressure below $0.3100 and the 100 hourly SMA. There is a risk of more losses below the $0.2900 support levels. Sellers may push the price towards $0.2850 or even $0.2820.<\/p>\nTechnical Indicators<\/h2>\n Hourly MACD \u2013 The MACD for XRP\/USD could move back in a bearish zone in the short term.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently well below the 50 and 40 levels.<\/p>\n
Major Support Levels \u2013 $0.2900, $0.2850 and $0.2820.<\/p>\n
Major Resistance Levels \u2013 $0.3050, $0.3060 and $0.3070.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ripple price declined further below the $0.3040 and $0.3000 support levels against the US dollar. The price remained in a bearish zone below $0.3200 as discussed in yesterday\u2019s analysis. There is a major bearish trend line in place with resistance at $0.3060 on the hourly chart of the XRP\/USD pair (data source from Kraken). The pair could correct higher in the short term, but it is likely to decline further towards $0.2850. Ripple price extended losses and broke key supports against the US Dollar and bitcoin. XRP is currently in a bearish zone and it could continue to move down towards $0.2850 or $0.2820. Ripple Price Analysis Yesterday, we saw the start of a strong decline from the $0.3300 resistance area in ripple price against the US Dollar. The XRP\/USD pair declined sharply below the $0.3250 and $0.3220 support levels. There was even a close below the $0.3200 level and the 100 hourly simple moving average. A swing low was formed near $0.3175 and later the price corrected higher. It moved above $0.3200, but it failed below the 50% Fib retracement level of the drop from the $0.3288 high to $0.3175 low. As a result, there was a fresh decline below the $0.3175 support area (as discussed in yesterday\u2019s analysis). There was a sharp decline below the $0.3100 and $0.3040 support levels. The price even broke the $0.3000 support to register more than 10% intraday drop. It traded close to the $0.2900 level and a swing low was formed at $0.2904. At the moment, the price is consolidating losses above the $0.2910 level. It recovered above the 23.6% Fib retracement level of the recent drop from the $0.3216 high to $0.2904 low. On the upside, there are many hurdles near the $0.3050 and $0.3060 levels. There is also a major bearish trend line in place with resistance at $0.3060 on the hourly chart of the XRP\/USD pair. The trend line coincides with the 50% Fib retracement level of the recent drop from the $0.3216 high to $0.2904 low. Therefore, it won\u2019t be easy for the bulls to push the price above the $0.3050 and $0.3060 resistance levels. Looking at the chart, ripple price is clearly under a lot of bearish pressure below $0.3100 and the 100 hourly SMA. There is a risk of more losses below the $0.2900 support levels. Sellers may push the price towards $0.2850 or even $0.2820. Technical Indicators Hourly MACD \u2013 The MACD for XRP\/USD could move back in a bearish zone in the short term. Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently well below the 50 and 40 levels. Major Support Levels \u2013 $0.2900, $0.2850 and $0.2820. Major Resistance Levels \u2013 $0.3050, $0.3060 and $0.3070.<\/p>\n","protected":false},"author":67,"featured_media":379684,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[3680,4531],"class_list":["post-379682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\n
Ripple (XRP) Price Drops Significantly, Next Leg Underway?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n