Ripple (XRP) price rallied above the $0.2220 resistance level only to fail desperately and decline to the $0.2265 price against the United States Dollar.

Nevertheless, Ripple (XRP) is still holding the downtrend despite the <a href="https://www.cryptoknowmics.com/crypto/reviving-bitcoin-cash-back-to-lost-glory-launch-of-competitive-bch-futures/">recent market rally</a> against the US Dollar. Similar to Bitcoin, XRP price has chances to revisit its near support of $0.2000.
<h2>Ripple Price Analysis</h2>
Following the $0.2100 support area tagging, Ripple seems to be gaining a strong rise beyond $0.2200 resistance area against the US Dollar. Furthermore, XRP price is rallying above the 100 hourly simple moving average and the $0.2220 resistance. 

Nevertheless, both $0,2270 and $0.2265 acted as strong price hurdles. In fact the formation of a swing high around the $0.2277 resulted to XRP price starting to trim gains. Hence, resulting in trades below the $0.2180 as well as the 100 hourly SMA. 

Additionally, Ripple (XRP) price already broke the 50% Fib retracement level of the recent price movement to a $0.2277 high from $0.2097 low. It is likely that the price made an unsuccessful attempt to recover above the $0.2220 and $0.2265 price levels. XRP is currently trading under the 76.4$ Fibonacci retracement level of the recent price increase from a $0.2097 low to a $0.2277 high. Hence, there exists the risk of a downside break below the $0.2100 support in the short term.

For instance, the mentioned case above denotes the possibility of Ripple’s price trading below the $0.2050 support. In fact, the main support is around the $0.2000 level, a point where the bulls seem to be taking their stand. Further losses could, therefore, push the price into a drastic downtrend towards the $0.1900 or even the $0.1850 price zone. 

Note the huge number of resistance on the upside near the $0.2150 and $0.2180 price levels. There is also a <a href="https://economictimes.indiatimes.com/definition/bearish-trend">bearish trend </a>line forming near the $0.2210 with resistance on the hourly XRP/USD pair chart. An intermediate resistance is also gaining shape around the $0.2200 and the 100 -simple moving average.

Ripple Price Analysis: Could XRP Revisit $0.2000 Support Area

Ripple (XRP) is still holding the downtrend despite the recent market rally against the US Dollar. Similar to Bitcoin, XRP price has chances to revisit...

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

Ripple Price Analysis: Could XRP Revisit $0.2000 Support Area

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