XRP price lost the $0.40 support level on June 10th and dipped as low as $0.30 with a plunge. From there, the price found support and managed to pull a brief recovery up to $0.35. But, it failed to surpass and had to back down. Yesterday, XRP price fell down to $0.2850 but once again found support. Currently, ripple is trading at $0.30.
XRP Price Action Analysis
Taking a look at the 4-hour chart, we see ripple losing the $0.40 support and falling as low as $0.30.
At this point, the $0.30 to $0.28 is the key support zone for ripple. In case of a successful support, XRP could possibly bounce back with a relief rally.
For this scenario, the $0.32 on the SMA100 is the first resistance level for the price. Following that, the $0.35 and then the $0.30 are key resistance levels.
On the other hand, if XRP price fails to surpass $0.32, it could once again dip to $0.28. By losing this level, the $0.25 and $0.20 are the next support levels for XRP.
The Technical Indicators
MACD indicator: at the time of writing this article the 4-hour MACD indicator is losing the downward momentum.
RSI: the relative strength index is approximately 40.
Resistance levels: XPR`s first resistance level is at $0.32 followed by $0.35 and finally $0.40.
Support levels: the first support level is at $0.30, then the $0.25. Then the $0.20 will follow.
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