Ripple Price Analysis
After struggling to clear the $0.680 resistance, Ripple price started a fresh decline against the US Dollar. The XRP/USD pair gained bearish momentum below the 0.625 support zone.
- The bears were able to push the price below the $0.50 support. A low was formed near $0.3994 and the pair is now attempting a recovery wave. There was a move above the $0.50 pivot level. The price climbed above the 50% Fib retracement level of the a downward move from the $0.6362 swing high to the $0.3994 low.
Looking at the chart, Ripple price is now trading below the $0.580 zone and the 55 simple moving average (4 hours). Overall, the price could start another decline if it stays below $0.565 and $0.580.
Technical indicators
4hrs MACD-The MACD for XRP/USD is now losing momentum in the bearish zone.
