Ripple Price Analysis: Risk of Drop Below $1.00

  • Ripple price started a fresh decline from the $1.20 resistance against the US dollar.
  • The price is now trading below $1.10 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $1.06 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could continue to move down if there is a clear break below $1.00.

Ripple price is showing bearish signs below $1.06 against the US Dollar, unlike bitcoin. XRP price remains at a risk of more losses below the $1.00 support.

Ripple Price Analysis

After a minor upward move, ripple price faced sellers near the $1.20 level against the US Dollar. The XRP/USD pair started a fresh decline below the $1.15 support zone.

The pair even declined below the $1.05 support and the 55 simple moving average (4-hours). The price even spiked below $1.02, and the price is now consolidating losses. A low is formed near $1.018 and it is now facing a lot of hurdles.

On the upside, XRP is facing resistance near the $1.05 level. There is also a key bearish trend line forming with resistance near $1.06 on the 4-hours chart of the XRP/USD pair.

The trend line is close to the 23.6% Fib retracement level of the downward move from the $1.219 swing high to $1.018 low. The next key resistance is near the $1.12 level and the 55 simple moving average (4-hours).

It is near the 50% Fib retracement level of the downward move from the $1.219 swing high to $1.018 low. A close above the $1.12 could increase the chances of a break above the key $1.15 resistance zone. The next major resistance is near the $1.20 level. Any more gains could lead the price towards the $1.25 level.

On the downside, an initial support is near the $1.002 level. The first major support is near the $1.00 level. Any more losses could lead the price towards the $0.92 level in the near term.

Ripple Price

Looking at the chart, ripple price is now trading below $1.05 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if there is a clear break below $1.00.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Key Support Levels – $1.00, $0.95 and $0.92.

Key Resistance Levels – $1.05 and $1.12.

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