XRP Price Steady While BTC and ETH Slip, Here’s the Breakout Zone

Ripple failed to clear $0.40 and traded lower against the US Dollar. If XRP price stays above the $0.345 support area, it could start a sharp increase.

  • XRP/USD started a fresh decline from the $0.40 resistance zone.
  • The price is now trading below $0.380 and the 100 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.371 on the 4-hours chart of the XRP/USD pair (data feed from Kraken).
  • The pair could start a strong increase if the $0.388 resistance area is cleared.

Ripple price remains supported

Last week, Ripple’s XRP attempted an upside break above the $0.40 resistance against the US Dollar. However, the bears remained active near $0.40 and pushed the price lower.

However, recent declines have been limited compared to the same period last year bitcoin and Ethereum. The price broke below the $0.372 and $0.365 support levels. It traded as low as $0.3458 and it is currently consolidating losses. It is trading below $0.380 and the 100 simple moving average (4-hours).

XRP price is currently facing a hurdle near $0.370. It is close to the 50% Fib retracement level of the downward move from the $0.3954 swing high to $0.3458 swing low.

There is also a key bearish trend line forming with resistance near $0.371 on the 4-hours chart of the XRP/USD pair. A successful break above the trendline resistance could lead the price towards the $0.380 resistance or the 76.4% Fib retracement level of the $0.3954 swing high to $0.3458 swing low.

resource: XRPUSD on TradingView.com

The next key resistance is near $0.388. The main hurdle remains around $0.40. Any more gains could push the price towards the $0.45 level.

Is XRP Supporting a Fall?

If Ripple fails to clear the $0.388 resistance area, it could slowly decline lower. An initial support on the downside is near $0.345.

The next major support is near $0.332. If there is a downside break and close below $0.332, xrp price could extend its losses. In the mentioned case, the price might even decline below the $0.320 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 – $0.345, $0.332, and $0.320.

Major Resistance Levels – $0.371, $0.388, and $0.400.

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