The Ripple rate is under strong pressure from below $0.3, where has resisted the downward trend line $0.3 (hourly chart the pair XRP/USD).
The dynamics of the course
Recovering from a recent collapse, the exchange rate of XRP reached $0.32, where they met strong resistance from the bears. Short-term high has been formed in the neighborhood of $0.3177, followed by a rollback, in which bitcoin was below $0.3 and the level of 76.4% Fibonacci of the last rise to $0.2904-$0.3177.
The closure took place below $0.3 and simple moving average 100 hours. Moreover, in the neighborhood of $0.3 resistance is formed the downward trend line (hourly chart the pair XRP/USD). Now the XRP exchange rate has consolidated near the $0.3.
In the nearest future the bulls may attempt of breaking the resistance of the downward trend line and a simple moving average, but it will be a very difficult task. In case of failure, you can expect a retracement to $0.28.
Performance review
Convergence/divergence (MACD) for the pair XRP/USD moves in a bullish zone. The relative strength index (RSI) is in the region of 40.
The main support level of $0.28, resistances at $0.3.
