Ripple price declined and continued to chop off gains after the bulls failed to recover above $0.22 resistance level.
On November 26, the price of Ripple (XRP) was in a bearish trend below the 9-day and 21-day Moving Averages (MA). However, XRP recovered slightly from the $0.20 support and rallied above the $0.21 resistance level.
Moreover, Ripple price touched the $0.22 resistance level but was unable to continue the uptrend. A break above this resistance could have boosted XRP in its mission to correct the damage caused in the last few weeks.
At the moment, Ripple price is changing hands at the $0.21 support level.
On the upside, if more buyers emerge, the coin will face resistance at the $0.25 and $0.27 level. On the other hand, if there is a downside break below $0.21, the bears may continue to find a new monthly low at $0.18 and $0.16 levels. Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.
On the 1-hour chart, the XRPUSD price is showing a few positive signs above the $0.2143 support. The current price action suggests high chances of a rally above the $0.2250 resistance. The next key resistance is near the $0.2270 level, above which the price could accelerate gains towards the $0.2350 resistance level.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
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