Ripple climbed above $0.2800, but it failed to continue above $0.2860 against the US Dollar. XRP price is currently declining towards the key $0.2700 and $0.2650 support levels.
- Ripple price topped near the $0.2860 level and declined recently against the US dollar.
- The price is now trading below the $0.2800 level, but there are still many supports on the downside.
- There was a break below a key bullish trend line with support near $0.2760 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The price is likely to find a strong buying interest near $0.2700 or $0.2650.
Ripple Price Could Bounce Back
Recently, there was a steady increase in ripple from the $0.2650 support area. XRP price broke the $0.2800 resistance area and the 100 hourly simple moving average.
However, the bulls failed to lead the price toward the $0.3000 resistance. A swing high is formed near $0.2861 and the price recently started a fresh decline. It traded below the $0.2800 and $0.2780 levels to move into a short term bearish zone.On the downside, there are many supports near the $0.2700 and $0.2650 levels. On the upside, the 100 hourly SMA is an initial hurdle near $0.2760. The first key resistance is seen near the $0.2800 level, above which the bulls are likely to gain strength. In the mentioned case, the price could rise further towards $0.3000.