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Ripple price is struggling to recover above the $0.2200 resistance area against the US dollar.The price remains at a risk of more downsides below the $0.2180 support area.There is a declining channel forming with resistance near $0.2210 on the hourly chart of the XRP/USD pair (data source from Kraken).Ethereum recovered a few points, but it is struggling to clear the $145-$146 resistance area.Ripple price is facing an uphill task against the US Dollar and Looking at the chart, ripple price is under a lot of pressure below the $0.2200 resistance area. The bears remain in action and it seems like they are eyeing a downside break below the $0.2180 and $0.2160 support levels.Technical IndicatorsHourly MACD – The MACD for XRP/USD is currently moving in the bearish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just above the 40 level.Major Support Levels – $0.2180, $0.2160 and $0.2120.Major Resistance Levels – $0.2200, $0.2220 and $0.2250.
Author: Aayush Jindal
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