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Ripple price declined recently after it failed to climb above the $0.3030 resistance against the US dollar.The price is currently trading below $0.2950, but it is holding the key $0.2850 support area.There was a break below a key bullish trend line with support near $0.2940 on the hourly chart of the XRP/USD pair (data source from Kraken).There could be a short term upward move, but the price might struggle to clear the $0.2950 resistance.Ripple price is correcting gains against the US Dollar and Ripple PriceLooking at the chart, ripple price is showing a few bearish signs below the $0.2950 and $0.2920 level. Having said that, the price could recover as long as there is no clear break below $0.2850.Technical IndicatorsHourly MACD – The MACD for XRP/USD is currently moving heavily in the bearish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level.Major Support Levels – $0.2880, $0.2850 and $0.2800.Major Resistance Levels – $0.2920, $0.2950 and $0.3000.
Author: Aayush Jindal
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