An XRP Fresh test of the $0.22 level is upcoming after Ripple failed to clear the $0.2450 resistance and dropped against the US Dollar. The price is now trading below the $0.2380 support and remains at a high risk of dropping below $0.22 so let’s read more in the latest XRP price news.
Ripple is down by more than 4% and it failed to clear the main $0.2450 resistance against the US Dollar so the XRP fresh test of the $0.22 is behind the corner. Yesterday’s important bearish trend line was followed with a resistance line at $0.2445 on the 4-hour charts of the pair. The pair will continue going lower to $0.2200 if it breaks the $0.2280 support. In the past two sessions, there was an increase in selling pressure in both Ethereum and Bitcoin but Ripple also saw it as the price failed to clear the main $0.2450 resistance area and stared a fresh decline.
There was a sharp decline below the $0.2400 level and the 100 simple moving average but there was also a break below the 50% fib retracement level from the key upward move at the $0.2195 swing low to the $0.2550 swing high. The drop made the bears push the price below the key $0.2380 but there was another bearish trend line active with the resistance close to the $0.2445 on the 4-hour charts for the pair. The XRP/USD pair is testing the $0.2300 zone plus the 61% fib retracement on the key upward movement from the $0.2195 swing low to $0.2550 swing high. If there’s another downside break, it could open the doors for another crash to the next major support at the $0.2200 level but further losses could lead Ripple to $0.2150.
If Ripple finds more support at the $0.2300 level, there are chances of a short-term upside correction so the price could face strong resistance at the 100 simple moving average with the $0.2400 level. The main resistance is still near the trend line at $0.2450 above which the bulls could gain strength in the upcoming days. The 4-hour MACD for the pair is gaining pace in the bearish zone while the 4-hour RSI is well below the 50 levels. as reported in our Ripple news yesterday, Ripple failed to clear the $0.2550 resistance level and formed a double top against the US Dollar. The price is trading below $0.2450 support and the 100 simple moving average with a key connecting the bearish trend line that forms resistance close to the $0.2465 on the 4-hour charts of the pair. The pair will likely decline sharply if there’s a close below the $0.2400 level.
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