Ripple Price (XRP) Failed Attempt Could Trigger Another Slide

Ripple price failed to break the main $0.2650 resistance area against the US dollar.
 The price is currently correcting lower and is trading near the key $0.2580 support area.
 There was a break below a major bullish trend line with support at $0.2620 on the hourly chart of the XRP/USD pair (data source from Kraken).
 The price could either decline further towards $0.2500 or it might bounce back towards $0.2650. Ripple price is struggling to continue higher against the US Dollar, while bitcoin is holding gains. XRP price remains at a risk of a fresh decline towards the $0.2500 support.





 Ripple Price Analysis
 Yesterday, XRP price made another attempt to surpass the $0.2650 resistance area against the US Dollar. However, the bulls failed to gain momentum, resulting in bearish moves below the $0.2620 support area.
 The price even traded below the $0.2600 support level and the 100 hourly simple moving average. On the other hand, bitcoin is still trading near the $10,500 support level, with positive moves. Recently, ripple price broke the 50% Fib retracement level of the last major move from the $0.2509 low to $0.2673 high.
 Moreover, there was a break below a major bullish trend line with support at $0.2620 on the hourly chart of the XRP/USD pair.
 The pair is now trading near the $0.2580 support area.




 Additionally, the 61.8% Fib retracement level of the last major move from the $0.2509 low to $0.2673 high is near the $0.2575 level.
 If the price continues to slide, it could test the $0.2540 support level.
 Any further declines might push the price back towards the main $0.2500 support level.
 On the upside, an immediate resistance is near the $0.2600 level and the 100 hourly simple moving average.
 Moreover, there is a connecting bearish trend line forming with resistance near the $0.2605 on the same chart.
 If there is a successful close above the $0.2600 and $0.2605 resistance levels, the price could climb above $0.2620.
 If there are more upsides, the price could retest the main $0.2650 resistance area in the near term.
Read the full topic at
https://www.newsbtc.com/2019/09/05/ripple-price-xrp-failed-attempt-could-trigger-another-slide/

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