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Ripple Price (XRP) Downside Risk Break, $0.2500

Ripple prices are falling within the bearish zone against the US dollar and bitcoin. The XRP price remains more risk-lowering, below $0.2620 and $0.2580.

Yesterday, Bitcoin, Ethereum and XRP saw a slight upward movement against the US dollar. Ripple exceeded the resistance of $0.2750 and a simple moving average every 100 hours. However, the price struggled to gain traction above the level of $0.2800. As a result, prices began to fall again and traded below $0.2750.

In addition, there was a break below the level of $0.2720 and a simple moving average every 100 hours. Prices are currently trading close to $.2660 and $.2650 support.

In addition, the main bullish trend line with the support of almost $0.2670 is under threat on the XRP/USD time chart. If there is a negative gap below $0.2650, prices may fall further. The next major support is near $.2620 and $.2580.

The latest lows were near $0.2667 before prices tried to recover. Conversely, immediate ripple resistance is close to a low of $0.2805 to $0.2667, close to the $0.2805 level fib reversal of the recent decline of 23.6% in addition to the level of $0.2700.

The next key resistor is close to the level of $0.2720 because it corresponds to a simple moving average every 100 hours. In addition, the 50% Fib pullback level of the recent decline is close to $0.2735, from $0.2805 to a low of $0.2667.

So there are some important obstacles near $0.2720 and $0.2740 levels. The next major resistance is near the level of $0.2800, and on top of that, the price may return to the main resistance area of $0.2900.

Conversely, if prices continue to weaken, you can even trade below $0.2580 support.

 

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