Charted: Ripple (XRP) Dives Below $0.30, Why 100 SMA Is The Key

Charted: Ripple (XRP) Dives Below $0.30, Why 100 SMA Is The Key

Ripple started a strong decline after it failed near $0.3700 against the US Dollar. XRP price is currently testing a major support near $0.2600 and the 100 SMA (H4).

Ripple is down over 20% and it broke a couple of major supports at $0.3000 against the US dollar. The price tested the $0.2600 support zone and the 100 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.3320 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair must stay above $0.2600 and $0.2500 to start a fresh increase in the near term. Ripple’s XRP Price is Down 20%

In the past few days, ripple’s XRP price made two attempts to gain strength above $0.3650 and $0.3700. The bulls failed to remain in control, resulting in a sharp decline below the $0.3200 support.

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