- Ripple price is struggling to climb higher above the $0.2750 and $0.2800 resistances against the US dollar.
- Bitcoin price failed to climb above the key $10,500 resistance level and declined recently.
- A major bullish trend line with support near $0.2670 is at risk on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could accelerate its decline if there is a downside break below $0.2650 and $0.2620.
Ripple price is moving lower within a bearish zone against the US Dollar and bitcoin. XRP price remains at a risk of more downsides below the $0.2620 and $0.2580 supports.
Ripple Price Analysis
Yesterday, we saw a minor upward move in bitcoin, Ethereum and XRP against the US Dollar. Ripple climbed above the $0.2750 resistance and the 100 hourly simple moving average. However, the price struggled to gain traction above the $0.2800 level. As a result, the price started a fresh decline and traded below the $0.2750 support. Moreover, there was a break below the $0.2720 level and the 100 hourly simple moving average.
The price is now trading near the $0.2660 and $0.2650 support. Additionally, a major bullish trend line with support near $0.2670 is at risk on the hourly chart of the XRP/USD pair. If there is a downside break below $0.2650, the price could decline further. The next key supports are near $0.2620 and $0.2580. The recent low was formed near $0.2667 before the price attempted a recovery.