“Examining Ripple’s Price: Potential for a Bearish Break Below $0.35”
Ripple Price Continues to Decline Against the US Dollar
Ripple price has started a fresh decline from the $0.3850 zone against the US dollar. The price is now trading below $0.3750 and the 55 simple moving average (4-hours). This has caused concern among investors who are now worried about the future of the cryptocurrency.
According to data source from Bittrex, there is a key bearish trend line forming with resistance near $0.3700 on the 4-hours chart of the XRP/USD pair. This indicates that the pair could extend losses if it stays below the $0.3800 resistance zone.
Ripple price is struggling below $0.3800 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3500 to avoid more downsides in the near term. This means that investors need to be cautious and keep a close eye on the market.
This past week, ripple price saw a bearish reaction from the $0.3850 zone against the US Dollar. The XRP/USD pair declined below the $0.3750 support zone to move into a bearish zone. The recent move was such that the price declined below $0.3700 and the 55 simple moving average (4-hours). There was a clear indication that the bears were in control.
Investors are now worried about the future of ripple price and are looking for ways to protect their investments. Some are considering selling their holdings while others are looking for alternative investments.
The decline in ripple price is not unique to the cryptocurrency market. Bitcoin and other cryptocurrencies have also experienced a decline in recent weeks. This has been attributed to a number of factors including regulatory concerns and market volatility.
In conclusion, ripple price is currently struggling against the US dollar and investors need to be cautious. The cryptocurrency market is highly volatile and investors need to be prepared for any eventuality. It is important to keep a close eye on the market and make informed decisions based on market trends and analysis.