<strong><em>The Ripple(XRP) price action shows an increase in selling pressure above $036, resulting in a retracement to retest the broken trendline. </em></strong>

<strong>Key technical points: </strong>
<ul>
 	<li>The XRP prices dropped by 5.59% in the last 24 hours.</li>
 	<li>The price action showcases a bearish reversal from  $0.36 challenging the 50-day SMA.</li>
 	<li>The 24-hour trading volume of Ripple is $1.34 Billion, indicating a drop of 17%.</li>
</ul>
<h2>Past Performance of XRP</h2>
<a href="https://coincodex.com/crypto/ripple/">XRP price</a> action displays a bullish reversal from $0.30, breaking the long-coming resistance trendline on 16th July with a 5% jump. The bull run accounts for a price jump of 20% to reach the $0.36 mark. However, the supply dump above the resistance level influences a retracement of 6.5% over the past two weeks, influencing a retest of the broken trendline.

<img src="https://s3.tradingview.com/snapshots/w/WUGCBiB9.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/WUGCBiB9/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">XRP Technical Analysis </span></h2>
The <a href="https://www.cryptoknowmics.com/news/reasons-to-hodl-xrp/">XRP</a> price chart shows the falling trend in trading volume during the downfall, which increases the likelihood of a bullish turnaround after a successful retest. Moreover, the 50-day SMA acts as the last stand to keep the market value floating above the $0.35 mark.

The RSI indicator shows a weakness in the underlying bullishness as the RSI slope stepbacks to retest the halfway line. Hence, the technical indicator warns of a downtrend below the $0.35 mark. Furthermore, the MACD indicator displays a sudden rise in selling pressure as the positive histograms take a downturn. Therefore, the bullish spread takes a hit between the fast and slow lines teasing a potential bearish crossover.

In a nutshell, the XRP technical analysis displays a high likelihood of a price drop under the $0.35 mark to retest the broken trendline.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
Considering the Ripple(XRP) prices drop below the 50-day SMA, traders can expect the fallout rally to reach the $0.32 mark.

<strong>Resistance Levels:</strong> $0.36 and $0.40

<strong>Support Levels:</strong> $0.35 and $0.32

XRP Technical Analysis: Retracement From $0.36 Warns Bearish Trend

The Ripple XRP Technical Analysis shows an increase in selling pressure above $036, resulting in a retracement to retest the broken trendline. 

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

XRP Technical Analysis: Retracement From $0.36 Warns Bearish Trend

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