Ripple price climbed higher, but it failed near the $0.3100 resistance area against the US dollar. There is a new connecting bullish trend line formed with support at $0.3000 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could break the $0.3000 support and accelerate losses towards $0.2910 in the near term.
Ripple price remained below key resistances against the US Dollar and Bitcoin. XRP/USD may correct higher, but upsides are likely to face a strong selling interest near $0.3100.
Ripple Price Analysis
In the past couple of days, there were bearish moves in ripple price below the $0.3120 pivot against the US Dollar. The XRP/USD pair made two attempts to surpass the $0.3100 and $0.3120 resistance levels, but it failed. On the other hand, bitcoin and Ethereum remained in the bullish zone above $3,550 and $120 respectively. Recently, there was an upward move above the $0.3050 level and the 100 hourly simple moving average. However, sellers protected gains near $0.3100 and a high was formed at $0.3094. Later, there was a sharp bearish reaction and the price declined below the $0.3040 support.
There was even a close below $0.3040 and the 100 hourly simple