- Ripple price failed to break the $0.4080 and $0.4100 resistance levels against the US dollar.
- The price declined recently and broke the key $0.4020 and $0.4000 support levels.
- This week’s followed key bullish trend line was breached with support near $0.4015 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The price is now trading well below $0.4000 and it may continue to struggle in the near term.
Ripple price is struggling to continue higher above $0.4100 against the US Dollar, and declined heavily vs bitcoin. XRP price could revisit the $0.3850 support before a decent recovery.
Ripple Price Analysis
In the past two sessions, bitcoin price extended gains above $12,800 and $13,000. However, ripple price failed to break the $0.4080 and $0.4100 resistance levels. The last swing high was near the $0.4078 and recently the price declined below the $0.4040 support. Moreover, there was a break below key $0.4020 and $0.4000 support levels. The price even spiked below the $0.3920 support and the 100 hourly simple moving average.
More importantly, this week’s followed key bullish trend line was breached with support near $0.4015 on the hourly chart of the XRP/USD pair. The pair traded as low as $0.3903 and it is currently correcting higher. It broke the $0.3940 level plus the 23.6% Fib retracement level of the recent decline from the $0.4078 swing high to $0.3903 low.