Ripple price is sliding and it is under pressure below the $0.22 resistance level. The XRPUSD pair is could decline further below $0.21 level.
Last week, the price of Ripple (XRP) was trading in a range-bound move. On November 25, after the last bearish trend, Ripple price dropped to a low of $0.20. For the past three weeks, XRP has failed to move up to higher price levels. The coin has been fluctuating between the levels of $0.20 and $0.23.
However, the coin has not been able to trade below levels $0.20 and above $0.23. At the time of writing, Ripple price is trading at the $0.21 level.
On the upside, if more buyers emerge, the coin will rise and retest the $0.22 and $0.23 level. This will likely open the doors for more upsides above the $0.24 level. On the downside, if the downward move continues and breaks below $0.20, the downtrend will resume towards the $0.18 support level.
In the 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, BTCUSD price is clearly declining heavily and it seems like the bears are targeting further losses below $0.2100. If they remain in action, the price is likely to test the main $0.2000 support level in the short-term.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
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