Ripple’s Bears Are Back: XRP Is Plunging To New Lows Of $0.20

It seems like Ripple’s bears are back since the XRP price is getting lower than 10 percent and reached a $0.20 support against the US dollar. As per the XRP news today, the XRP price is correcting higher but the upside seems set at $0.2150.

Ripple’s bears came back with signs reaching below the $0.2200 and $0.2150 levels against the US dollar. The price tested the $0.2000 support area and there are some more risks of losses in the near future as we can see in the XRP news today. The price is set to correct higher but will likely face a very strong selling interest close to the $0.2150. Ripple started a huge decline from the $0.2300 support and the price followed a bearish path similar to the one of Ethereum and Bitcoin by trying to settle below the 100 hourly simple moving average.

The latest data that we have in our XRP latest news, shows that the bears took the price below the $0.2150 support area and it tested the $0.2000 support level by forming a new monthly low close to the $0.1998. Ripple is trying to correct higher and is trading above the $0.2040 level by also testing the 23.6% fib retracement level of the recent dive from the $0.2449 high. There are a lot of hurdles that are forming close to the $0.2100 level but there is also a contracting triangle that is forming the support close to the $0.2038 as we saw in the XRP news today charts.

If the pair manages to break this support, there are a few chances of more losses in the long run with support close to the $0.2000 area. Below this level, the Ripple’s bears will likely try to test a new support area of $0.1880. If Ripple starts an upside correction to the $0.2100 it could even test the key of $0.2150 resistance area. The 50% Fib retracement level from the recent dive of $0.2449 high to $0.1998 so another recovery in the xrp price requires a strong break above the $0.2150 resistance. If not, the bears will likely aim for more losses below the $0.2020 support levels in the upcoming sessions. Ripple’s price has been strongly volatile over the previous period so you should check the XRP news for more updates on the price.