Ripple Price Analysis
Yesterday, we saw a decent upside correction in ripple price above $0.3000 against the US Dollar. The XRP/USD pair climbed above the $0.3020 resistance and the 100 hourly simple moving average. Moreover, the price spiked above the $0.3050 level, but it failed to climb above the $0.3060 level. It seems like the negative sentiment around bitcoinand Ethereum stopped yesterday’s recovery.
XRP price is now trading with a bearish angle below the $0.3020 support. Additionally, there was a break below the 23.6% Fib retracement level of the recent recovery from the $0.2894 low to $0.3060 high. At the moment, the price is about to break a connecting bullish trend line with support near $0.2995 on the hourly chart. Therefore, there is a risk of more losses below $0.3000 and $0.2990 in the near term.