• Ripple price started a fresh decline from the $0.470 zone against the US dollar.
• There is a major bearish trend line forming with resistance near $0.440 on the 4-hour chart of the XRP/USD pair.
• The pair could extend losses if it stays below the $0.450 resistance zone.
Ripple Price Analysis
Ripple price started a fresh decline from well above $0.4600 against the US Dollar. The XRP/USD pair gained bearish momentum below the $0.4500 level and bears were able to push the price below the $0.4320 support, even trading below the 55 simple moving average (4 hours) and spiked below the $0.420 support, creating a low of $0.4100 and attempting a recovery wave since then.
XRP is now trading below $0.440 and the 55 simple moving average (4 hours). Besides, there is a major bearish trend line forming with resistance near $0.440 on the 4-hour chart of the XRP/USD pair. On the upside, other resistance levels include 50% Fib retracement level of downward move from swing high to low near at 0$.4480 and 61%.8 Fib retracement level of downward move from swing high to low at 0$.4480 as well as clear move above trendline resistance and 0$%.4480 which might start fresh increase in prices and surpassing 0$.450 resistance leading prices towards 0$.480 resistance level initially followed by 0$.416 support on downside with next major support being near at 0$.410 level which might lead prices towards testing of 0$.400 level further down or even testig of 0$.388 levels in worst case scenarios .
The MACD for XRP/USD is now losing momentum in bearish zone while Relative Strength Index (RSI) for XRP/USD is now well below 40 levels suggesting more selling pressure in market due to increasing bearishness .
Overall, Ripple’s price is now trading below key supports like that around $0.450 zone and 55 simple moving average (4 hours). The pair could extend losses if it stays below this key resistance zone in short term suggesting more selling pressure coming ahead .
If Ripple continues its current course, it has potential to increase beyond current resistances towards targets like that around%$%.480 but any more losses can lead prices towards testing lower supports like %$%.400 or even %$%.388 in worst case scenarios .