Ripple Price Analysis: XRP/USD’s Downside Break

Key HighlightsRipple price declined recently after buyers failed to push it above $0.7100 against the US dollar.Yesterday’s highlighted crucial ascending channel with support at $0.6860 was broken on the hourly chart of the XRP/USD pair (data source from Kraken).The pair is now trading below the $0.6800 support level and the 100 hourly simple moving average.Ripple price made a bearish turn against the US Dollar and Bitcoin. XRP/USD may correct lower towards the $0.6600 support in the near term.Ripple Price ResistanceThere was no upside break above the $0.7100 level in Ripple price against the US Dollar. The price traded as high as $0.7060 before sellers appeared and pushed the price lower.

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