XRP Price Declines Under $0.30: What’s Next?
The XRP/USD pair price fell from over $0.3200. The decline extended under $0.3000, and it may keep up the downtrend in the near term.
Over the past three to four sessions, the pair has faced increasing bearish pressure below $ 0.3200. As a result, the price is moving below $ 0.3050 and bearing $ 0.3000.
It also closed with support of $ 0.3000 and the 100 hourly SMA. That’s down more than 10 percent to $ 0.2677. The pair recently underwent a slight correction above $ 0.2800.
However, the pair is facing some upside resistance, approaching $ 0.2940 and $ 0.2950.
XRP Price Prediction
An essential watch on the hourly chart of XRP against the US dollar is the formation of two lines connecting the bearish trend with $ 0.2950 and $ 0.3000 resistance.
Therefore, buyers need to gain momentum above the $ 0.2950 and $ 0.3000 resistance barriers to moving prices into the positive zone.
If there is no momentum above $ 0.2950, there is a risk of further downside movement. Initial significant support is near $ 0.2800. A break below $ 0.2800 and $ 0.2780 could force sellers to focus on a fresh weekly low below $ 0.2670.
The ability to lift resistance at the $ 0.2950 and $ 0.3000 resistance levels could lead to a new rally.
The significant primary barrier is near the $ 0.3200 zone and the 100 hourly SMA, above which the price can retest the $ 0.3400 lock zone.
by Kyle Akihiko
by Kyle Akihiko
by Olowoporoku Adeniyi