– Ripple price started a fresh decline from the $0.484 zone against the US dollar.
– XRP is now trading below $0.465 and the 55 simple moving average (4 hours).
– Ripple’s price is now trading below the $0.465 zone and the 55 simple moving average (4 hours).

Ripple Price Analysis

Ripple price started a fresh decline from the $0.484 zone against the US dollar. The price is now trading below $0.465 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.456 on the 4-hour chart of the XRP/USD pair (data source from Bittrex). The pair could extend losses if it stays below the $0.465 resistance zone.

Resistance Level

On the upside, the price is facing resistance near $0.440. It is close to the 23.6% Fib retracement level of the downward move from the $0.4868 swing high to the $0.4252 low. The next major resistance is near the $0.4560 level and a bearish trend line which is close to 50% Fib retracement level of that same move mentioned above . A clear move above this trend line might start a fresh increase in Ripple’s value .

Support Level

Initial support on downside lies near at around$ 0 . 432 mark while next major support lies at around$ 0 . 425 mark . Further declines could lead Ripple towards testing its support at around$ 0 . 400 region , after which it could even test its support at around$ 0 . 388 region as well .

Technical Indicators

The MACD for XRP/USD , according to technical indicators , has been gaining momentum in bearish territory , implying further losses for Ripple’s worth in coming days .

Conclusion

Overall, Ripple’s price could extend losses if it stays below its key resistance levels at around$ 0 . 465 region since bears are still dominant in market as indicated by technical indicators such as MACD which have been gaining momentum in bearish territory recently indicating further losses for XRP/USD pair in coming days ahead

Von Harro