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Ripple Price (XRP) Could Breakdown Below $0.2480
Ripple price is struggling to gain momentum above the $0.2600 resistance against the US dollar.The price is currently declining and it could continue to move down below $0.2520.There is a connecting bearish trend line forming with resistance near $0.2545 on the hourly chart of the XRP/USD pair (data source from Kraken).The price could decline sharply below the $0.2500 and $0.2480 support levels in the near term.Ripple price is showing bearish signs below $0.2500 against the US Dollar, similar to Looking at the chart, ripple price is showing a lot of bearish signs and is trading well below the $0.2580 level. As long as the price is trading below $0.2580, there are chances of more losses. On the upside, the bulls might continue to face a strong selling interest near the $0.2650 level.Technical IndicatorsHourly MACD – The MACD for XRP/USD is about to move back into the bearish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now moving well below the 50 level.Major Support Levels – $0.2510, $0.2500 and $0.2480.Major Resistance Levels – $0.2560, $0.2600 and $0.2620.
Author: Aayush Jindal
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