Key HighlightsRipple price was not able to stay above the $0.3500 support zone and declined against the US dollar. There is a new connecting bearish trend line in place with resistance at $0.3300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently at risk of a downside break below the $0.3100 support level in the near term. Ripple price is under pressure below key supports against the US Dollar and Bitcoin. XRP/USD could decline sharply if there is a break below the $0.3100 support. Ripple Price SupportYesterday, we saw a decent upside move above the $0.3400 level in Ripple price against the US Dollar. The XRP/USD pair traded towards the $0.3550 level where sellers appeared. The price topped at $0.3541 and later started a downside move. It trimmed most of its yesterday’s gains and broke the $0.3400 support. There was also a close below the $0.3300 level and the 100 hourly simple moving average. A new low was formed at $0.3092 before the price found support. It is currently recovering above the $0.3100 level. It tested the 38.2% Fib retracement level of the last decline from the $0.3541 high to $0.3092 low. On the upside, there is a new connecting bearish trend line in place with resistance at $0.3300 on the hourly chart of the XRP/USD pair. Above the trend line resistance, the $0.3320 barrier is close to the 100 hourly simple moving average. Moreover, the 50% Fib retracement level of the last decline from the $0.3541 high to $0.3092 low is also near $0.3320. Looking at the chart, ripple price may continue to face sellers near the $0.3300 and $0.3320 levels. If there is a downside break, the price could break the $0.3100 level for more losses. Looking at the technical indicators:Hourly MACD – The MACD for XRP/USD is slowly moving in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level. Major Support Level – $0.3100Major Resistance Level – $0.3350 Ripple Price Analysis: XRP/USD At Risk of Break Below $0.3100 was last modified: August 23rd, 2018 by Aayush Jindal