XRP Price Prediction: Bears Reject $0.40, Ripple Turns Vulnerable To More Losses
Ripple is moving lower from the $0.405 resistance zone against the US Dollar. XRP price is now at a risk of downside break below the $0.37 support.
Ripple is currently moving lower from the $0.4050 resistance zone against the US dollar. The price is now trading above $0.385 and the 100 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.3780 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could recover if there is a clear move above the $0.385 and $0.388 resistance levels.Ripple Price Dips Further
This past week, ripple’s XRP started a fresh decline from the $0.4050 resistance zone against the US Dollar. The price declined below the $0.395 and $0.392 levels to move into a bearish zone.
There was a drop below the $0.380 level and the 100 simple moving average (4-hours). A low is formed near $0.3694 and the price is now consolidating losses. There is a key bearish trend line forming with resistance near $0.3780 on the 4-hours chart of the XRP/USD pair.
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Source: XRPUSD on TradingView.com
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More Losses in XRP?
If ripple fails to clear the $0.388 resistance zone, it could continue to move down. An initial support on the downside is near the $0.370 level.
The next major support is near $0.364. If there is a downside break and close below the $0.364 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.332 support.
Technical Indicators
4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone.
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $0.370, $0.364 and $0.332.
Major Resistance Levels – $0.384, $0.388 and $0.400.