Ripple price corrected lower to $0.26 support level after facing a strong resistance. Will the XRPUSD pair extend its decline below $0.26 before it starts a fresh increase?
Yesterday, October 10, the price of Ripple (XRP) price traded to a new weekly high at $0.28 resistance level. Nevertheless, the bulls met resistance and the Ripple price resumed a downside correction below the $0.28 and $0.27 support levels. At the time of writing, the XRP is trading at the $0.26 support level.
On the upside, if more buyers emerge, the coin will face resistance at the $0.27 price level. Conversely, if the bulls fail to break the $0.27 resistance level, the crypto’ price will drop to the $0.25 price level. Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
On the 1-hour chart, XRPUSD price is in a bearish trend. Today, the XRP price is falling, if the bearish trend continues, the market will revisit the support level of $0.25 in the short-term. However, as long as the price is above $0.26, it could bounce back above $0.27 resistance level.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
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