Ripple Price Analysis: XRP At Risk of Reversal Below $0.675 | Live Bitcoin News

• Ripple price started a fresh decline below the $0.785 zone against the US dollar.
• The price is now trading below $0.725 and the 55 simple moving average (4 hours).
• There was a break above a key bearish trend line with resistance near $0.715 on the 4-hour chart of the XRP/USD pair (data source from Bittrex).
• The pair could extend losses if it breaks the $0.675 support zone.

Ripple price is struggling below $0.765 against the US Dollar, similar to Bitcoin. XRP price could decline further if it settles below the $0.675 support in the near term.

Ripple Price Analysis

In the past few days, Ripple price started a fresh decline from well above $0.820 against the US Dollar. The XRP/USD pair gained bearish momentum below the $0.80 level.

The bears were able to push the price below the $0.785 support. It even traded below the 55 simple moving average (4 hours) and spiked below the $0.70 support. A low is formed near $0.6734 and the price is now attempting a recovery wave.

There was a move above the $0.70 level. Besides, there was a break above a key bearish trend line with resistance near $0.715 on the 4-hour chart of the XRP/USD pair.

XRP is now trading below $0.725 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near $0.7155, and the 23.6% Fib retracement level of the downward move from the $0.8525 swing high to the $0.6734 low.

The next major resistance is near the $0.765 level. It is near the 50% Fib retracement level of the downward move from the $0.8525 swing high to the $0.6734 low.

A clear move above $0.765 might start a fresh increase. In the stated case, the price could even surpass the $0.785 resistance. Any more gains might send the price toward the $0.820 resistance. Initial support on the downside is near $0.6750. The next major support is near the $0.650 level. Any more losses could lead the price toward the $0.620 level, below which the price might even test $0.60.

Looking at the chart, Ripple’s price is now trading below the $0.725 zone and the 55 simple moving average (4 hours). Overall, the price could extend losses if it breaks the $0.675 support zone.

Technical indicators

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

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

Key Support Levels – $0.700, $0.6750, and $0.650.

Key Resistance Levels – $0.7155 and $0.7650.

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• Source: https://www.livebitcoinnews.com/ripple-price-analysis-xrp-at-risk-of-reversal-below-0-675/