Ripple price analysis: Bears take control of the XRP/USD market as the prices drop below $0.40

TL;DR Breakdown

  • Ripple price analysis shows a bearish trend
  • XRP/USD found support at $030.
  • Resistance is at $0.45.

Ripple price analysis shows a bearish trend. Ripple price has been in a downtrend since early April. Price action has recently taken out key support levels, indicating that the sell-off may continue in the near term. XRP/USD daily chart the daily chart, we can see that prices have been in a steady downtrend since early April. The sell-off intensified in late May, with prices losing over 30% of their value in just a few days. The recent decline has taken out key support levels at $0.35 and $0.30, indicating that the sell-off may continue in the near term.

There is short-term support for XRP prices at $0.35, but a break below this level could see prices retest support at $0.30.Ripple price analysis shows that the current trend is bearish and that prices may continue to decline in the near term.

Ripple price analysis on a daily chart: XRP/USD in a bad sabbath as the price dip further

Ripple’s price analysis indicates that yesterday’s trading session saw the prices trading in a bullish trend. Nonetheless, the prices have given up all of these gains and are trading in a bearish trend. The bears have been able to push the prices below the $0.37 support level, which has been holding strong for several hours. The demand is very low at this point as the market is oversold.

Ripple price analysis
Ripple price analysis: 24-hour chart. Source: Trading View

The next support level is $0.35, and a break below this level could see prices retesting support at $0.30. On the upside, resistance is found at $0.45, and a breakout above this level is needed for the bulls to make a comeback. Ripple price analysis: XRP prices continue to decline as the bears take control of Ripple price analysis shows that the sell-off has continued in today’s trading session as the bears take control of the market. The prices have declined below the $0.35 support level and are now testing support at $0.30. A break below this level could see prices retesting support at $0.28. On the upside, resistance is found at $0.45, and a breakout above this level is needed for the bulls to make a comeback.

XRP/USD 4-hour chart price analysis: Recent price developments

On a 4-hour Ripple price analysis, we can see that the sell-off has intensified in today’s trading session as the prices have declined below the $0.35 support level. The bears are now targeting a break below the $0.30 support level, which is a key level to watch.

Ripple price analysis
Ripple price analysis: 24-hour chart. Source: Trading View

Bollinger bands are starting to contract, indicating that the volatility is decreasing. This could lead to a breakout in either direction. The MACDipple price analysis: The MACD is bearish and is indicating that the sell-off may continue in the near term. The RSI is currently at 29, which is indicative of oversold conditions.

Ripple price analysis: conclusion

Ripple price analysis indicates that the prices are in a bearish trend with downward momentum. The $0.35 level should support the prices, which is important horizontal resistance. Ripple prices may test the $0.33 mark, which is also significant horizontal support in the market if they continue to fall.

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