XRP Price Falls Again: Why?
XRP fought above $0.480. The price is falling again and may go below $0.4680.
XRP fails to break $0.4800 barrier.
The price is below $0.4750 and the 100-hour SMA.
The hourly XRP/USD chart shows a big bearish trend line with resistance around $0.4720 (Kraken).
The pair may be rejected at $0.4720 and $0.480 again.
Price Drops XRP
XRP tried a rebound over $0.4720 like Bitcoin and Ethereum. However, bears were aggressive at $0.480 resistance. At $0.4797, the price peaked and fell.
It fell below $0.4750 and $0.4720. The price fell below the 50% Fib retracement of the $0.4619 swing low to $0.4797 high. On the hourly XRP/USD chart, a big negative trend line with resistance at $0.4720 is formed.
The price is below $0.4750 and the 100-hour SMA. It finds bids at the 61.8% Fib retracement level of the upward run from $0.4619 swing low to $0.4797 high.
The price faces upward resistance at $0.4720. Near $0.4750 is the first big resistance. Still around $0.480 is the primary obstacle.
A break over $0.480 might push the price above $0.4850. Near $0.500 is the next significant resistance. Price might rise if it closes over $0.500 barrier. The next hurdle is $0.5120. More advances might push price toward $0.5250 barrier.
More Losses?
XRP may fall if it fails to break $0.4720. Initial downside support is $0.4680.
The next significant support is $0.4620. If the price breaks down and closes below $0.4620, it may fall further. The price might go below $0.4320 in the short term.
