XRP Price Shows Confluence Of Bearish Factors and Could Decline Again

Aug 22, 2023 06:00 am Cryptocurrency 115
XRP Price Shows Confluence Of Bearish Factors and Could Decline Again

Ripple’s token price is showing bearish signs below $0.580 against the US Dollar. XRP price could start another decline if it trades below $0.480.


  • Ripple’s token price is struggling to recover above $0.550 and $0.580 against the US dollar.

  • The price is now trading below $0.56 and the 100 simple moving average (4 hours).

  • There is a major bearish trend line forming with resistance near $0.580 on the 4-hour chart of the XRP/USD pair (data source from Kraken).

  • The pair might start another decline if there is a break below $0.480.

    • Ripple’s Token Price Faces Uphill Task


    After a major decline to $0.40, Ripple’s XRP started an upside correction against the US Dollar. The price recovered a few points above the $0.45 and $0.48 resistance levels, similar to Bitcoin and Ethereum.


    The bulls pushed the price above the 50% Fib retracem ..

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