XRP price is in a bearish trend like the general crypto market. Ripple's coin failed to pass the resistance at the $0.85 level. As a result, XRP could possibly test lower levels soon.

As can be seen on the 4-hour chart, Ripple has been stuck between $0.85 and $0.74 for about 18 days. During this period, the XRP price neither significantly increased nor fell below these levels. The volumes have decreased so the price is not moving up or down at the moment.

XRP made another attempt to break above the $0.84 resistance (marked by the arrow) today, but was rejected and could drop back to these lows before it can find significant support.

The closest resistance is at $0.843 (50% Fibonacci retracement), where the highest volumes are also seen. Support below this level is seen at $0.81. If XRP drops below this level, there could be an even sharper decline.

XRP US Dollar-1

On the other hand, XRP could consolidate for a while between the $0.81 support and the $0.843 resistance unless a major uptrend starts today or tomorrow due to the lack of interest in either direction at the moment.

Bitcoin is trading in a narrow range today, while most other cryptocurrencies have a stable or declining volume. This, in turn, has a negative impact on the Ripple price. On the 4-hour chart, another rejection can be observed for Ripple price this morning.

Ripple price is moving in a downtrend this week. After a notable rise in early December, the price started to lose momentum at $1.23 on December 23. The bulls failed to continue moving forward and resulted in a rapid decline to $0.90 the next day. It then entered the consolidation phase and a minor attempt was made at higher prices of $0.95, where progress was denied.

Ripple price fell further in the days that followed. It found support at $0.85 yesterday. However, the price again failed to gain momentum. We expect another drop in the next few days as XRP/USD fails to rise any further. Ripple price is bearish today as we wait for another spike after a quick rally to retest the $0.85 resistance. Then, XRP is likely to move towards the $0.81 support.