XRP/USD Pair Settles For Another Consolidation Above $0.1540

XRP/USD pair settles for another consolidation level after the coin losses contained into a descending channel as we reported in the previous Ripple XRP price news.

The support at $0.15 means a lot for the XRP/USD traders in the fight to reach above $0.20. Ripple’s price is down by 37 percent over the past week and this cryptocurrency’s market cap was hit the most and is in a terrible position this week as well. Most of the losses on the board had crushing effects especially for the top three digital assets, Ripple bitcoin, and Ethereum. The weekend session is still hit with a lot of losses since for example the XRP/USD pair is down by 5 percent and counting. The price is hovering around $0.51 support level and an intraday low was traded at $0.1501, meaning that the new support level will be at $0.1500 as an immediate support zone.

Surprisingly, the losses for the cryptocurrency were contained within a descending channel but the gains towards this channel resistance were not really forthcoming over the past couple of days. XRP/USD settles for consolidation but remains vulnerable to declines as long as the price remains under the $0.20 level. In the meantime, the RSI is stuck with the oversold territory suggesting that the selling activities are quite high. The fresh round of losses at $1.00 could stop the buyers in the upcoming sessions. It is very important that the support at $0.15 is defended. The prolonged consolidation above the $0.15 will increase the investors’ interest in XRP and will pull the price above $0.20.

As previously reported in the Ripple XRP price news, The XRP price is down by more than $0.1000 and it tested the $0.1200 support against the US dollar so right now the price is correcting higher from the $0.1174 low. There is a huge bearish trend line forming with a $0.1900 resistance on the 4-hour charts of the XRP/USD pair data. The price could resume the decline if it fails to recover above the $0.1650. On the upside, the initial resistance is close to the $0.1650 level and the 50% Fib retracement level of the decline from the $0.2160 high to $0.1174 low is close to the $0.1667 level.