RATE Group | Ripple Price (XRP) Recovery Won’t Be Easy While Bitcoin Takes Hit
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Ripple Price (XRP) Recovery Won’t Be Easy While Bitcoin Takes Hit

07 Aug Ripple Price (XRP) Recovery Won’t Be Easy While Bitcoin Takes Hit

Posted at 04:55h in Bitcoin News by

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  • Ripple price traded close to the $0.3320 resistance level before declining sharply against the US dollar.
  • The price is currently correcting higher after it traded as low as $0.3065.
  • There is a key resistance forming near $0.3180 and a bearish trend line on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price might correct higher, but it is likely to struggle near the $0.3180 and $0.3200 resistances.

Ripple price is facing a lot of hurdles against the US Dollar, while bitcoin is holding an important support. XRP price is likely to face a strong selling interest near the $0.3200 resistance area.

Ripple Price Analysis

Recently, there was a decent rise in ripple price above the $0.3220 resistance against the US Dollar, coupled with gains in Ethereum and bitcoin. The XRP/USD pair climbed above the $0.3300 level and the 100 hourly simple moving average. However, the bulls failed to clear the $0.3320 resistance area. A swing high was formed near $0.3317 and the price…

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