After a clear break above $ 0,3200, the XRP price di Ripple began a sharp rise. There has been a clear break above the $ 0.4000 resistance zone and the $ 0.5000 level. The price even climbed above $ 0,5200 and settled above the 100-day simple moving average. However, the bulls failed to break out of the $ 0,5500 resistance area, forming a high near $ 0.5343 before starting a new decline.
There was therefore a break below the support levels of 0.4200 and 0.4000 dollars. As of today, the price level is still holding the $ 0,3400 support zone and the 100-day simple moving average. On the upside, the price is facing hurdles near $ 0.4000. There is also an important bearish trend line forming with resistance near $ 0.4650 on the XRP / USD daily chart.
At this point, there is a good chance that the price of Ripple price may revisit the $ 0.4400 and $ 0.4500 resistance levels until there is a break below $ 0.3200.
If Ripple fails to initiate a vigorous rise towards the resistances we briefly identified above, then it is possible that XRP may find support near $ 0,3680 and $ 0,3600. The first major support is near the $ 0.3550 level. The main support could be near the $ 0,3200 level. If the price fails to stay above $ 0.3200, then there could be a downward extension towards the $ 0.2450 support zone.