Ripple struggled to clear the $0.550 resistance against the US Dollar. XRP price is now moving lower and might drop further similar to bitcoin. Ripple faced a strong selling interest near the $0.55 zone against the US dollar. The price is now trading below $0.500 and the 100 simple moving average (4-hours). There was a break below a key bullish trend line with support near $0.4940 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could decline heavily if there is a clear move below the $0.4650 support. Ripple’s XRP Price Starts Decline This past week, ripple’s XRP started a steady increase from the $0.4500 support zone. There was a clear move above the $0.480 and $0.505 resistance levels. The price climbed above the $0.520 resistance, outperforming bitcoin and ethereum’s ether. However, the bulls failed once again to clear the key $0.550 resistance zone. A high was formed near $0.5486 and the price started a fresh decline. XRP price declined below the $0.52 and $0.50 support levels. There was a move below the 50% Fib retracement level of the upward move from the $0.4417 swing low to $0.5486 high. Besides, there was a break below a key bullish trend line with support near $0.4940 on the 4-hours chart of the XRP/USD pair. The price is now trading below $0.500 and the 100 simple moving average (4-hours).’ Source: XRPUSD on TradingView.com On the upside, the price is facing resistance near the $0.4...
