# Ripple (XRP) Price Analysis: Primed for More Declines?

Ripple price failed to break the $0.3180 resistance and declined recently. XRP is under pressure and it may continue to move down towards$0.3000 or $0.2950. • Ripple price is trading with a bearish angle below the$0.3100 and $0.3170 resistances. • There is a declining channel in place with resistance at$0.3060 on the 30-minute chart.
• XRP remains at a risk of more losses towards $0.3000 or$0.2950.

## Ripple Price Analysis

There were many failures in ripple price near the $0.3170 and$0.3180 resistance levels. XRP declined recently and broke the $0.3100 and$0.3070 support levels to move into a bearish zone.

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair settled below the $0.3070 pivot level and the 25 simple moving average (30-minute). It traded as low as$0.3011 and later started a short-term upside correction.

The price is currently testing the 23.6% Fib retracement level of the recent slide from the $0.3188 high to$0.3011 low. Moreover, there is a declining channel in place with resistance at $0.3060 on the same chart. The current price action suggests that the price may perhaps break the channel resistance and$0.3070. However, there are many resistances on the upside near the $0.3100 and$0.3120 levels.

Besides, the 50% Fib retracement level of the recent slide from the $0.3188 high to$0.3011 low is near the $0.3100 level to act as a solid hurdle for buyers. If there is a break above the$0.3100 and $0.3120 resistance levels, the price could test the all-important$0.3170-0.3180 resistance zone.

As long as the price is trading below the $0.3170-0.3180 resistance zone, it remains in a downtrend. An initial support is at$0.3020, below which there is a risk of a drop below the $0.3000 support. Overall, ripple price is trading in a negative zone below$0.3100 and $0.3120. There could be short-term bullish moves in XRP, but upsides are likely to be capped near the$0.3170-0.3180 resistance zone. On the downside, the key supports are $0.3020,$0.3000 and \$0.2950.

The market data is provided by TradingView, Bitfinex.

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