Ripple price is struggling to correct higher and it is likely to decline again if it fails to surpass $0.270 support.
Yesterday, November 11, the price of Ripple (XRP) was in a bearish trend. Recently, the coin declined sharply below the $0.310 resistance level. Moreover, Ripple price declined heavily and broke many supports near the $0.295 and $0.285 levels.
Moreover, there was a close below the $0.285 level and the 9-day and 21-day moving averages. As a result, there was a break below $0.280 and the price traded as low as $0.270. At the time of writing, the coin is changing hands at the 0.272 support level
On the upside, if more buyers emerge, the coin will face resistance at the $0.290 and $0.30 price levels. On the downside, the coin will find support at the $0.265 and $0.260 price 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, XRPUSD price is in a bearish trend below the $0.2800 and $0.2840 resistance level. A convincing close above $0.2840 is needed for the price to move into a bullish zone. If not, there is a risk of more losses below $0.2700.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
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