Ripple price failed to continue higher and extended decline after bitcoin and Ethereum weakened significantly, However, XRP/USD is correcting losses and it might gain traction if there is a break above $0.3100.

  • Ripple price extended losses to $0.2825 and recently corrected above $0.2920.
  • There is a major bearish trend line forming with resistance near $0.3020 on the 30-minute chart.
  • XRP/USD could rebound sharply if there is a close above the $0.3060 and $0.3100 resistances.

Ripple Price

Ripple Price Analysis (XRP to USD)

After a short term correction, bitcoin and Ethereum resumed their decline below $10,000 and $205.00 respectively. As a result, ripple price faced an increase in selling pressure and it dropped below the $0.3060 and $0.3000 support levels.

Ripple Price Analysis (XRP to USD) Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair even broke the $0.2920 support level and traded as low as $0.2825. However, the decline was limited and the price bounced back sharply above $0.2920 and $0.2950.

Moreover, there was a break above the $0.3060 resistance, but the price struggled near $0.3100 and the price recently corrected lower. There was a break below the $0.2950 level plus the 50% Fib retracement level of the recent wave from the $0.2825 low to $0.3091 high.

The price tested the $0.2920 support and the 61.8% Fib retracement level of the recent wave from the $0.2825 low to $0.3091 high. Ripple is currently consolidating near the $0.2975 level and the 25 simple moving average (30-minute chart).


On the upside, there are a few important resistances near $0.3020 and $0.3060. Moreover, there is a major bearish trend line forming with resistance near $0.3020 on the same chart.

Therefore, if there is an upside break, the price might start a strong rebound above the $0.3100 and $0.3120 levels. The next important resistance is close to the $0.3200 and $0.3220 levels.

On the other hand, if ripple price fails to climb above the $0.3060 and $0.3100 resistance levels, it could resume its decline. An immediate support is near the $0.2920 level, below which XRP/USD might trade to a new monthly low below $0.2825.

The market data is provided by TradingView, Bitfinex.

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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.

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