Ripple Price Bearish Momentum Below the 100-Day SMA

Ripple price enters bearish territory today as it continues below the 100-day moving average for the second consecutive day. Ripple return above the 100-day moving average on the end of May after the rebound from the yearly lows in March. The rebound stalled at the 200-day moving average and the correction slowly drove the price below the 100-day moving average with bears taking control.

Ripple Labs and 40 other crypto – companies joined forces to form the Open Payments Coalition and launch a universal payments system PayID. The new payment system will reach over 100 million users and allow it’s members to send and receive money across the globe in any payment network in real-time.

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Ripple Price Support and Resistance

Ripple price is 1.29% lower at $0.1871, making fresh five days low as the sellers are in control after the price breached below the 100-day moving average. The technical outlook is bearish now, and traders target lower levels.  

Looking further down, immediate support for XRPUSD stands at $0.1867 the daily low. The next support for Ripple will be met at $0.1842 the low from June 11. If Ripple price breaks below 0.1842, the Ripple price could correct further towards the $0.1709 the low from June 9.

On the other hand, initial resistance for Ripple will be met at $0.1899 the daily high; If Ripple breaks above $0.1899, the next hurdle will be met at $0.1903 the 100-day moving average. A break above 0.1903 might open the way for a move higher. Next resistance area to watch is at $0.1987 the high from June 17.  

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