Ripple Price Struggles To Clear $0.20, XRP Is Vulnerable Now

The XRP news today show that the altcoin has been having a tough time breaking above $0.20. While no one knows if these attempts are going to continue, we can see that the Ripple price struggles to clear the levels and could extend its decline towards $0.1920 or even $0.1880.

In the past two days, we could see how Ripple made a couple of attempts to clear the $0.2025 and $0.2050 resistance levels. However, the cryptocurrency failed to gain strength above $0.2025 and broke the 23.6% Fib retracement level of the recent wave from a $0.1949 low to a $0.2026 high.

There was also a noticeable break below a key contracting triangle with support near $0.2000 on the hourly chart of the XRP/USD pair. Speaking of, the Ripple price is now showing a few bearish signs below the $0.2000 pivot level which leads analysts to believe that a decline may be on its way.

What’s important to consider in the cryptocurrency news today is the fact that the Ripple XRP price is now testing the $0.1985 level of the 50% Fib retracement level of the recent wave from the $0.1949 low to the $0.2026 high. This level is the most realistic at this point and traders hope that it won’t be compromised in the near future.

If we see a downside break below the $0.1980 level, the price of XRP is likely going to accelerate lower in the near term. In this mentioned case, the price is likely to extend its decline towards $0.1920. The 100 hourly simple moving average is also waiting near the $0.1920 level to provide support. Any further losses happening from this point may perhaps call for a test of the key $0.1880 support level.

On the upside, there is an optimistic note that the two major hurdles for XRP bulls near the $0.2025 and $0.2050 levels. To start a convincing rally, the price of Ripple must gain bullish momentum.

While the Ripple price struggles now, a successful close above the $0.2050 resistance area could open the doors for more upsides towards $0.2100 and $0.2150 levels in the near term.

The technical indicators right now look solid – presented below:

• Hourly MACD – The MACD for XRP/USD is preparing to move towards the bearish zone.
• Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently below the 50 level.
• Major Support Levels – $0.1980, $0.1920 and $0.1880.
• Major Resistance Levels – $0.2000, $0.2025 and $0.2050.