Ripple Price Analysis: XRP/USD Could Decline To $0.2600
Key HighlightsRipple price extended losses and traded below the $0.3000 support level against the US dollar.There is a key bearish trend line forming with resistance near the $0.3040 level on the hourly chart of the XRP/USD pair (data source from Kraken).The pair remains at a risk of more losses below the $0.2900 and $0.2800 support levels in the near term.Ripple price is struggling to rebound against the US Dollar and Bitcoin. XRP/USD could extend declines below $0.2800 and it may perhaps test $0.2600.Ripple Price ResistanceThis past week, there were nasty declines in Ripple price below the $0.3200 support area against the US Dollar. The XRP/USD pair even broke the $0.3000 support and traded to a new monthly low at $0.2873. Later, the price stared an upside correction above $0.2900 and recovered above $0.3000. There was a break above the 23.6% Fib retracement level of the last decline from the $0.3503
Like this article? Take a second to support us on Patreon!