Ripple price is trying to correct from the recent crash. XRP could start declining again after it is able to correct to around $0.2920-0.2950.
Ripple price had a sharp downward slide Yesterday underneath the major support around $0.3000. XRP continued to slide downwards to stay in a bearish zone and even broke the $0.2920 and $0.2900 support levels. However, the support around $0.2840 and 0.2850 support proved a bit strong after which ripple price started its correction phase. The price is as of now trading close to the 23.6% FIB retracement dimension of the last fall from the $0.2987 high to $0.2850 low. There are a number of resistances on the upside around $0.2920, $0.2960 and $0.3000.
A bearish pattern line is formed with resistance around $0.2920 on the hourly chart. If XRP is able to break the upcoming resistance then the next resistance lies around $0.2940 and the 100 hourly SMA. To have a good recovery, the price must break the $0.2950 and $0.3000 resistance levels. If not, the price stays at danger of falling underneath $0.2880 and $0.2850. After which the only major support left for Ripple is around $0.2800.
Taking a look at the chart, ripple price is trading underneath the $0.2950 resistance and the 100 hourly SMA. It is overall in a strong bearish zone and the current upside correction is going to face a number of sellers around $0.2950.