XRP Price Prediction: Bearish Continuation Below $0.33 Seems Likely

Dec 22, 2022 06:00 am Cryptocurrency 111

Ripple is consolidating below the $0.35 resistance zone against the US Dollar. XRP price could extend its decline if there is no recovery wave above the $0.35 barrier.

Ripple is currently consolidating below the $0.35 and $0.365 levels against the US dollar.

The price is now trading below $0.365 and the 100 simple moving average (4-hours).

There is a key bearish trend line forming with resistance near $0.3480 on the 4-hours chart of the XRP/USD pair (data source from Kraken).

The pair could start a decent recovery if it clears the $0.350 resistance zone.

Ripple Price Faces Resistance

After struggling to clear the $0.40 resistance, ripple’s XRP started a fresh decline against the US Dollar. The price dropped below the $0.380 and $0.365 support levels to move into a bearish zone.

The price gained pace below the $0.35 support and settled below the 100 simple moving average (4-hours). The bulls finally appeared near the $0.332 level. A low is formed near $0.3321 and the price is now consolidating losses, just like price prediction bearish continuation below seems likely