Ripple was rejected near the $ 0.2250 resistance zone against the US dollar, similar to Bitcoin near $ 8,450. As a result, XRP deficiencies were below $ 0.2150 and $ 0.2100.
The ripple price is down more than 10% and is currently trading below $ 0.2100 against the US dollar.
Price couldn’t even stay above the $ 0.2080 support area.
There is a major bearish trend line forming with resistance around $ 0.2105 in the hour chart of the XRP / USD (Kraken data source).
There are chances of further losses unless the price exceeds $ 0.2100 and $ 0.2100.
Price ripple in the face of obstacles
After a strong rise, ripples failed to surpass the $ 0.2250 resistance zone against the US dollar. There was a sharp bearish response in the XRP and the price dropped below the $ 0.2150 support.
Furthermore, there was a break below the $ 0.2100 support and the simple moving hourly average. The bulls were not even able to protect the support of $ 0.2080 and the price was trading below $ 0.2020.
A similar price action was observed for Bitcoin after it declined near $ 8,450. BTC is down 5% and it has broken the $ 8,080 support area.
Looking at the ripple, it is currently moving higher after trading lower than $ 0.2031. It has recovered above a 23.6% deflection interest rate from its recent low of $ 0.2170 to $ 0.2031.
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However, the previous support for around $ 0.2080 now acts as a hurdle. More importantly, there is a major bearish trend line forming with resistance around $ 0.2105 in the hourly chart of the XRP / USD.
Fiber’s energy level of 50% from the last fall from the $ 0.2170 low to $ 0.2031 is also close to the $ 0.2100 level to prevent a reverse break. Thus, ripples need to climb over $ 0.2080, $ 0.2100 and $ 0.2120 to start a new ascent.
One final push at XRP for $ 0.2000?
The current price action suggests that XRP may install the final push below the $ 0.2050 level. In the scenario mentioned, the price may increase to about $ 0.2000 or $ 0.1980 before starting a new upward step.
Looking at the chart, the price of the rally is clearly some important backer to eliminate the chance of running toward $ 0.2400. However, the price will likely go back until there is no daily turnover below $ 0.2000.
Hourly MACD – The MACD for XRP / USD is about to move into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP / USD is now well below 50.
Main Support Levels – $ 0.2050, $ 0.2000 and $ 0.1980.
Main resistance levels – $ 0.2080, $ 0.2100 and $ 0.2120.